Randolph Co Inc Purchases 154 Shares of Medtronic plc (NYSE:MDT)

Randolph Co Inc lifted its position in Medtronic plc (NYSE:MDT) by 0.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 292,310 shares of the medical technology company’s stock after acquiring an additional 154 shares during the period. Medtronic comprises 2.6% of Randolph Co Inc’s investment portfolio, making the stock its 17th largest holding. Randolph Co Inc’s holdings in Medtronic were worth $23,350,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MDT. Mainstream Capital Management LLC bought a new position in Medtronic in the fourth quarter worth approximately $26,000. Rakuten Securities Inc. grew its position in shares of Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after buying an additional 294 shares during the last quarter. Stephens Consulting LLC lifted 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 acquiring an additional 204 shares during the last quarter. Optiver Holding B.V. purchased a new position in Medtronic in the fourth quarter worth $31,000. Finally, Fiduciary Advisors Inc. acquired a new position in shares of Medtronic during the fourth quarter worth $36,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Down 0.2 %

MDT stock opened at $83.98 on Tuesday. The firm’s fifty day moving average is $88.08 and its 200 day moving average is $87.21. The firm has a market cap of $107.71 billion, a PE ratio of 25.53, a P/E/G ratio of 2.22 and a beta of 0.79. Medtronic plc has a one year low of $75.96 and a one year 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.

Medtronic (NYSE:MDT) last announced its quarterly earnings results 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 firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, research analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MDT. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Robert W. Baird upped their price target on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and raised their price target for the stock from $92.00 to $107.00 in a report 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, Truist Financial reduced 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.