Capstone Triton Financial Group LLC Has $800,000 Stake in Medtronic plc (NYSE:MDT)

Capstone Triton Financial Group LLC raised its holdings in Medtronic plc (NYSE:MDT) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,009 shares of the medical technology company’s stock after purchasing an additional 213 shares during the quarter. Capstone Triton Financial Group LLC’s holdings in Medtronic were worth $800,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mainstream Capital Management LLC bought a new position in shares of Medtronic in the fourth quarter valued at about $26,000. Stephens Consulting LLC increased its position in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 204 shares in the last quarter. Rakuten Securities Inc. raised its stake in shares of Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 294 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new position in shares of Medtronic during the fourth quarter worth approximately $27,000. Finally, Optiver Holding B.V. bought a new stake in shares of Medtronic during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Up 0.6%

MDT opened at $81.14 on Wednesday. The firm’s fifty day moving average is $84.64 and its two-hundred day moving average is $86.31. The firm has a market cap of $104.07 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.04. The business had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 EPS. Equities research analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be issued a $0.71 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Friday, June 27th. Medtronic’s dividend payout ratio is 78.45%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MDT shares. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday. Mizuho cut their price target on Medtronic from $100.00 to $98.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Royal Bank of Canada lowered their price objective on Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a research report on Thursday, May 22nd. Truist Financial cut their target price on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic has an average rating of “Hold” and a consensus price target of $96.07.

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.