Tudor Financial Inc. Acquires Shares of 6,505 Medtronic plc (NYSE:MDT)

Tudor Financial Inc. acquired a new stake in Medtronic plc (NYSE:MDT - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,505 shares of the medical technology company's stock, valued at approximately $586,000.

Several other hedge funds also recently modified their holdings of MDT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Medtronic by 436.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company's stock valued at $661,125,000 after acquiring an additional 5,975,110 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Medtronic by 65.0% in the 3rd quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company's stock valued at $406,122,000 after acquiring an additional 1,790,483 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Medtronic by 1,195.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company's stock valued at $144,637,000 after acquiring an additional 1,695,800 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Medtronic by 58.4% in the 3rd quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company's stock valued at $346,705,000 after acquiring an additional 1,420,263 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Medtronic by 8,908.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company's stock valued at $116,896,000 after acquiring an additional 1,284,002 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MDT shares. Piper Sandler boosted their price target on shares of Medtronic from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Wednesday, August 21st. Robert W. Baird decreased their price target on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a research note on Wednesday, November 20th. Daiwa America upgraded shares of Medtronic to a "strong-buy" rating in a research note on Friday, August 23rd. Barclays boosted their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Medtronic currently has an average rating of "Hold" and an average target price of $95.27.

Medtronic Stock Performance

Shares of NYSE:MDT traded down $0.19 during midday trading on Thursday, reaching $82.73. The company had a trading volume of 4,747,652 shares, compared to its average volume of 6,244,348. The company's 50 day moving average price is $87.87 and its 200 day moving average price is $85.00. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The stock has a market cap of $106.08 billion, a P/E ratio of 25.39, a P/E/G ratio of 2.38 and a beta of 0.82. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 EPS. As a group, sell-side analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Friday, December 27th. Medtronic's dividend payout ratio (DPR) is currently 85.63%.

Medtronic Profile

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.