ABLE Financial Group LLC Has $479,000 Stock Position in Medtronic plc (NYSE:MDT)

ABLE Financial Group LLC decreased its stake in Medtronic plc (NYSE:MDT) by 8.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,000 shares of the medical technology company’s stock after selling 586 shares during the period. ABLE Financial Group LLC’s holdings in Medtronic were worth $479,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Mainstream Capital Management LLC acquired a new stake in shares of Medtronic in the 4th quarter valued at $26,000. Stephens Consulting LLC raised its holdings in 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 purchasing an additional 204 shares during the last quarter. Rakuten Securities Inc. raised its holdings in Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 294 shares during the last quarter. Optiver Holding B.V. bought a new stake in Medtronic during the 4th quarter worth about $31,000. Finally, Chapman Financial Group LLC bought a new stake in Medtronic during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $80.70 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The stock has a market cap of $103.51 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The stock has a 50-day moving average of $85.06 and a 200-day moving average of $86.40. Medtronic plc has a one year low of $75.96 and a one year high of $96.25.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.04. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.81 billion. During the same period in the prior year, the business earned $1.46 EPS. Medtronic’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, sell-side analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.52%. This is a boost from Medtronic’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, June 27th. Medtronic’s dividend payout ratio is presently 78.45%.

Analyst Ratings Changes

MDT has been the subject of several recent research reports. Mizuho dropped their price objective on Medtronic from $100.00 to $98.00 and set an “outperform” rating for the company in a report on Thursday. Robert W. Baird dropped their price objective on Medtronic from $94.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday. Truist Financial dropped their price objective on Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a report on Friday, April 11th. Royal Bank of Canada dropped their price objective on Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday. Finally, UBS Group boosted their price objective on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and a consensus target price of $96.07.

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.