Forefront Analytics LLC Acquires 754 Shares of Medtronic plc (NYSE:MDT)

Forefront Analytics LLC boosted its stake in shares of Medtronic plc (NYSE:MDT) by 32.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,077 shares of the medical technology company’s stock after acquiring an additional 754 shares during the quarter. Forefront Analytics LLC’s holdings in Medtronic were worth $246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Franklin Street Advisors Inc. NC grew its position in shares of Medtronic by 32.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock worth $5,873,000 after buying an additional 18,057 shares during the last quarter. Olstein Capital Management L.P. boosted its holdings in Medtronic by 8.0% in the fourth quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company’s stock valued at $7,509,000 after acquiring an additional 7,000 shares in the last quarter. Czech National Bank increased its position in Medtronic by 6.4% during the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock valued at $22,212,000 after purchasing an additional 16,786 shares during the period. Empowered Funds LLC raised its holdings in Medtronic by 2.7% in the 4th quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company’s stock worth $8,453,000 after purchasing an additional 2,778 shares in the last quarter. Finally, Talbot Financial LLC lifted its position in shares of Medtronic by 6.4% in the 4th quarter. Talbot Financial LLC now owns 133,453 shares of the medical technology company’s stock worth $10,660,000 after purchasing an additional 8,031 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Robert W. Baird increased their price target on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Truist Financial reduced their price target on Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and lifted their price target for the company from $92.00 to $107.00 in a research report 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $96.14.

Medtronic Trading Down 0.2 %

NYSE:MDT opened at $83.47 on Friday. The stock has a market cap of $107.05 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 2.22 and a beta of 0.81. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The company’s 50 day moving average price is $86.76 and its 200-day moving average price is $86.83. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 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 the consensus estimate of $8.33 billion. On average, equities research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is 85.11%.

Medtronic Company 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.