CoreCap Advisors LLC Increases Stock Holdings in Medtronic plc (NYSE:MDT)

CoreCap Advisors LLC boosted its stake in Medtronic plc (NYSE:MDT) by 16.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,244 shares of the medical technology company’s stock after buying an additional 322 shares during the quarter. CoreCap Advisors LLC’s holdings in Medtronic were worth $179,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Olstein Capital Management L.P. grew its position in Medtronic by 8.0% in the 4th quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company’s stock worth $7,509,000 after purchasing an additional 7,000 shares in the last quarter. Czech National Bank grew its holdings in shares of Medtronic by 6.4% in the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock valued at $22,212,000 after acquiring an additional 16,786 shares in the last quarter. Empowered Funds LLC increased its position in shares of Medtronic by 2.7% during the fourth quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company’s stock valued at $8,453,000 after acquiring an additional 2,778 shares during the last quarter. Talbot Financial LLC lifted its holdings in Medtronic by 6.4% during the fourth quarter. Talbot Financial LLC now owns 133,453 shares of the medical technology company’s stock worth $10,660,000 after acquiring an additional 8,031 shares during the period. Finally, Caprock Group LLC boosted its position in Medtronic by 12.6% in the fourth quarter. Caprock Group LLC now owns 47,767 shares of the medical technology company’s stock worth $3,849,000 after purchasing an additional 5,363 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MDT shares. Robert W. Baird upped their price objective on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Truist Financial reduced 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. Finally, UBS Group increased their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $96.14.

Medtronic Trading Up 2.7%

Shares of MDT stock opened at $85.70 on Tuesday. The business has a 50-day moving average price of $86.59 and a two-hundred day moving average price of $86.73. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25. 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 firm has a market cap of $109.91 billion, a P/E ratio of 26.05, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.27%. 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.