Stifel Financial Corp cut its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,835,665 shares of the medical technology company's stock after selling 6,355 shares during the quarter. Stifel Financial Corp owned approximately 0.46% of Medtronic worth $466,157,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. MONECO Advisors LLC raised its holdings in Medtronic by 1.8% in the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock valued at $512,000 after acquiring an additional 115 shares in the last quarter. OLD Second National Bank of Aurora increased its position in shares of Medtronic by 0.3% during the fourth quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock valued at $2,900,000 after purchasing an additional 121 shares during the period. McKinley Carter Wealth Services Inc. raised its stake in shares of Medtronic by 0.7% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company's stock valued at $1,572,000 after purchasing an additional 129 shares in the last quarter. Faithward Advisors LLC lifted its position in Medtronic by 2.7% in the fourth quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock worth $403,000 after purchasing an additional 134 shares during the period. Finally, Vestor Capital LLC boosted its stake in Medtronic by 0.3% during the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock worth $4,104,000 after buying an additional 138 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.
Medtronic Price Performance
Shares of NYSE MDT traded down $0.11 during trading on Friday, reaching $84.19. The company had a trading volume of 5,879,411 shares, compared to its average volume of 7,710,707. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The business's 50 day moving average price is $88.18 and its 200-day moving average price is $87.29. The stock has a market cap of $107.98 billion, a PE ratio of 25.59, a PEG ratio of 2.22 and a beta of 0.79.
Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $8.33 billion. Analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.
Medtronic Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a dividend of $0.70 per share. The ex-dividend date was Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.33%. Medtronic's payout ratio is currently 85.11%.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the stock. Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Royal Bank of Canada restated an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. UBS Group increased their target price on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Robert W. Baird boosted their price target on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Finally, Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $96.14.
Check Out Our Latest Stock Report on MDT
About Medtronic
(
Free Report)
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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