Financial Management Professionals Inc. Has $580,000 Stake in Medtronic plc (NYSE:MDT)

Financial Management Professionals Inc. boosted its position in shares of Medtronic plc (NYSE:MDT) by 3.2% during the 1st quarter, HoldingsChannel reports. The firm owned 6,460 shares of the medical technology company’s stock after buying an additional 198 shares during the quarter. Financial Management Professionals Inc.’s holdings in Medtronic were worth $580,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after acquiring an additional 37,265 shares in the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Medtronic by 43.9% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,009 shares of the medical technology company’s stock valued at $579,000 after purchasing an additional 2,139 shares during the period. Spire Wealth Management increased its holdings in shares of Medtronic by 26.5% in the 4th quarter. Spire Wealth Management now owns 11,849 shares of the medical technology company’s stock valued at $946,000 after purchasing an additional 2,481 shares during the period. Greenleaf Trust lifted its position in shares of Medtronic by 9.1% in the fourth quarter. Greenleaf Trust now owns 14,095 shares of the medical technology company’s stock worth $1,126,000 after purchasing an additional 1,174 shares in the last quarter. Finally, CENTRAL TRUST Co boosted its holdings in shares of Medtronic by 4.0% during the fourth quarter. CENTRAL TRUST Co now owns 10,478 shares of the medical technology company’s stock worth $837,000 after purchasing an additional 402 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Price Performance

Shares of NYSE:MDT opened at $85.58 on Wednesday. The stock has a market capitalization of $109.76 billion, a P/E ratio of 26.01, a P/E/G ratio of 2.22 and a beta of 0.81. The business has a 50-day moving average of $84.04 and a two-hundred day moving average of $86.16. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.04. The business had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $1.46 EPS. On average, equities research analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.32%. This is a boost from Medtronic’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. Medtronic’s payout ratio is presently 78.45%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Royal Bank of Canada lowered their price objective on shares of Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. UBS Group boosted their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Wall Street Zen downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Truist Financial reduced their price objective on Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, April 11th. Finally, Robert W. Baird lowered their target price on Medtronic from $94.00 to $92.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.00.

Medtronic 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.