Aspetuck Financial Management LLC Invests $272,000 in Medtronic PLC (NYSE:MDT)

Aspetuck Financial Management LLC bought a new position in shares of Medtronic PLC (NYSE:MDTFree Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,025 shares of the medical technology company’s stock, valued at approximately $272,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mainstream Capital Management LLC acquired a new stake in shares of Medtronic during the fourth quarter worth about $26,000. Burkett Financial Services LLC grew its holdings in shares of Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after buying an additional 185 shares during the last quarter. Rakuten Securities Inc. grew its holdings in shares of Medtronic by 753.8% during the fourth 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. Wood Tarver Financial Group LLC purchased a new position in shares of Medtronic during the fourth quarter worth about $27,000. Finally, Optiver Holding B.V. purchased a new position in shares of Medtronic during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. Leerink Partners assumed coverage on Medtronic in a report on Monday, June 16th. They set an “outperform” rating and a $110.00 price target on the stock. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Friday, June 6th. Mizuho lowered their price target on Medtronic from $100.00 to $98.00 and set an “outperform” rating on the stock in a report on Thursday, May 22nd. Finally, Truist Financial lowered their price target on Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and an average target price of $97.87.

View Our Latest Stock Report on MDT

Medtronic Price Performance

Shares of NYSE:MDT opened at $86.05 on Thursday. The business’s 50 day simple moving average is $84.67 and its 200-day simple moving average is $86.29. The firm has a market capitalization of $110.36 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 2.32 and a beta of 0.79. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. Medtronic PLC has a 12 month low of $75.96 and a 12 month high of $96.25.

Medtronic (NYSE:MDTGet Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.58 by $0.04. The business had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.46 EPS. As a group, equities analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.71 per share. This is a positive change from Medtronic’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.84 annualized dividend and a dividend yield of 3.30%. Medtronic’s payout ratio is 77.35%.

Medtronic Profile

(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.

See Also

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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