AlTi Global Inc. Has $24.18 Million Stock Holdings in Medtronic plc (NYSE:MDT)

AlTi Global Inc. raised its position in Medtronic plc (NYSE:MDT) by 0.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 302,592 shares of the medical technology company’s stock after acquiring an additional 199 shares during the period. Medtronic comprises approximately 0.6% of AlTi Global Inc.’s holdings, making the stock its 23rd largest holding. AlTi Global Inc.’s holdings in Medtronic were worth $24,175,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of MDT. Mainstream Capital Management LLC bought a new position in Medtronic in the fourth quarter worth $26,000. Rakuten Securities Inc. raised its stake 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 valued at $27,000 after buying an additional 294 shares in the last quarter. Stephens Consulting LLC lifted its holdings in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 204 shares during the period. Optiver Holding B.V. acquired a new stake in shares of Medtronic during the 4th quarter valued at about $31,000. Finally, Fiduciary Advisors Inc. bought a new stake in Medtronic in the fourth quarter valued at about $36,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of MDT stock opened at $84.74 on Friday. The firm has a market cap of $108.68 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 2.22 and a beta of 0.79. 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 stock has a 50-day moving average price of $87.65 and a 200 day moving average price of $87.09.

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

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.30%. Medtronic’s dividend payout ratio is currently 85.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MDT shares. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Robert W. Baird increased their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Finally, UBS Group lifted their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $96.14.

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.