Capital Analysts LLC Has $9.69 Million Stake in Medtronic plc (NYSE:MDT)

Capital Analysts LLC grew its holdings in Medtronic plc (NYSE:MDT - Free Report) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 121,300 shares of the medical technology company's stock after acquiring an additional 3,180 shares during the quarter. Capital Analysts LLC's holdings in Medtronic were worth $9,690,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Medtronic in the fourth quarter valued at $1,163,580,000. Raymond James Financial Inc. acquired a new position in shares of Medtronic in the fourth quarter valued at $852,732,000. Beutel Goodman & Co Ltd. acquired a new position in shares of Medtronic in the fourth quarter valued at $377,169,000. Van ECK Associates Corp raised its stake in shares of Medtronic by 2,043.4% in the fourth quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company's stock valued at $207,540,000 after purchasing an additional 2,476,935 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Medtronic by 17.8% in the fourth quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company's stock valued at $1,233,769,000 after purchasing an additional 2,333,600 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Performance

Shares of MDT traded down $0.18 during trading hours on Monday, hitting $83.98. The company had a trading volume of 4,513,345 shares, compared to its average volume of 6,676,670. The firm has a market cap of $107.71 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 2.22 and a beta of 0.79. The business has a fifty day moving average of $88.08 and a 200-day moving average of $87.21. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic's dividend payout ratio is 85.11%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Truist Financial dropped their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. UBS Group raised their target price on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and raised their target price for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Royal Bank of Canada restated an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Robert W. Baird raised their price target on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $96.14.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.