Integrated Wealth Concepts LLC decreased its stake in Medtronic plc (NYSE:MDT - Free Report) by 12.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,294 shares of the medical technology company's stock after selling 5,954 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Medtronic were worth $3,378,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mainstream Capital Management LLC acquired a new stake in shares of Medtronic during the 4th quarter worth approximately $26,000. Stephens Consulting LLC grew its position in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after buying an additional 204 shares during the period. Rakuten Securities Inc. increased its holdings in Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after buying an additional 294 shares in the last quarter. Fiduciary Advisors Inc. acquired a new position in shares of Medtronic in the fourth quarter worth about $36,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Medtronic during the 4th quarter worth about $40,000. 82.06% of the stock is owned by institutional investors and hedge funds.
Medtronic Trading Down 0.1 %
Shares of Medtronic stock opened at $84.19 on Friday. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The stock has a market cap of $107.98 billion, a P/E ratio of 25.59, a P/E/G ratio of 2.22 and a beta of 0.79. The stock's 50 day simple moving average is $88.14 and its 200-day simple moving average is $87.26.
Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.
Medtronic Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date was Friday, March 28th. Medtronic's dividend payout ratio is presently 85.11%.
Wall Street Analysts Forecast Growth
MDT has been the subject of a number of analyst reports. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and upped their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Royal Bank of Canada reiterated an "outperform" rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Truist Financial cut their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Robert W. Baird lifted their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $96.14.
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About Medtronic
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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.
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