Meadow Creek Wealth Advisors LLC lifted its stake in Medtronic plc (NYSE:MDT – Get Rating) by 3.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,499 shares of the medical technology company’s stock after acquiring an additional 152 shares during the period. Meadow Creek Wealth Advisors LLC’s holdings in Medtronic were worth $499,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Medtronic by 1.7% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,453 shares of the medical technology company’s stock valued at $684,000 after acquiring an additional 90 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Medtronic by 3.6% in the 1st quarter. Wedge Capital Management L L P NC now owns 2,633 shares of the medical technology company’s stock valued at $292,000 after acquiring an additional 92 shares in the last quarter. Wealth Architects LLC raised its stake in shares of Medtronic by 5.2% in the 4th quarter. Wealth Architects LLC now owns 1,991 shares of the medical technology company’s stock valued at $206,000 after acquiring an additional 98 shares in the last quarter. Chicago Capital LLC increased its position in Medtronic by 4.0% in the 4th quarter. Chicago Capital LLC now owns 2,541 shares of the medical technology company’s stock worth $263,000 after buying an additional 98 shares during the period. Finally, Lincoln National Corp increased its position in Medtronic by 1.4% in the 4th quarter. Lincoln National Corp now owns 7,310 shares of the medical technology company’s stock worth $756,000 after buying an additional 98 shares during the period. 80.23% of the stock is currently owned by institutional investors and hedge funds.
NYSE MDT opened at $89.25 on Thursday. The stock has a 50-day simple moving average of $100.73 and a 200 day simple moving average of $104.38. The company has a market capitalization of $119.73 billion, a PE ratio of 23.93, a P/E/G ratio of 2.27 and a beta of 0.74. The company has a current ratio of 1.86, a quick ratio of 1.49 and a debt-to-equity ratio of 0.39. Medtronic plc has a 12 month low of $86.95 and a 12 month high of $135.89.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, June 24th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 3.05%. This is a boost from Medtronic’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Thursday, June 23rd. Medtronic’s payout ratio is presently 67.56%.
MDT has been the topic of several recent analyst reports. Credit Suisse Group dropped their price target on Medtronic from $142.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on Medtronic from $149.00 to $121.00 in a research report on Friday, May 27th. Piper Sandler decreased their price objective on Medtronic from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, May 26th. Cowen lifted their price objective on Medtronic to $125.00 in a report on Monday, May 23rd. Finally, StockNews.com began coverage on Medtronic in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $121.55.
Medtronic Profile (Get Rating)
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software.
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