Medtronic plc (NYSE:MDT) Shares Acquired by Leonard Rickey Investment Advisors P.L.L.C.

Leonard Rickey Investment Advisors P.L.L.C. increased its position in Medtronic plc (NYSE:MDT) by 18.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,255 shares of the medical technology company’s stock after purchasing an additional 670 shares during the period. Leonard Rickey Investment Advisors P.L.L.C.’s holdings in Medtronic were worth $358,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MDT. TCTC Holdings LLC lifted its holdings in Medtronic by 3.4% in the fourth quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company’s stock worth $3,173,000 after acquiring an additional 1,301 shares during the last quarter. Brighton Jones LLC grew its stake in Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after buying an additional 37,265 shares during the last quarter. Oxford Asset Management LLP increased its position in Medtronic by 70.1% in the fourth quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company’s stock worth $594,000 after buying an additional 3,068 shares during the period. New Vernon Investment Management LLC increased its position in Medtronic by 304.9% in the fourth quarter. New Vernon Investment Management LLC now owns 29,613 shares of the medical technology company’s stock worth $2,425,000 after buying an additional 22,300 shares during the period. Finally, Advisor OS LLC lifted its stake in Medtronic by 152.0% in the fourth quarter. Advisor OS LLC now owns 11,800 shares of the medical technology company’s stock valued at $943,000 after buying an additional 7,118 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Truist Financial lowered their price target on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, April 11th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their target price for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Mizuho decreased their target price on shares of Medtronic from $100.00 to $98.00 and set an “outperform” rating for the company in a research report on Thursday, May 22nd. Wall Street Zen cut Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Finally, UBS Group boosted their price objective on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and a consensus target price of $97.00.

Medtronic Stock Up 0.5%

Shares of MDT stock opened at $87.92 on Wednesday. Medtronic plc has a 1 year low of $75.96 and a 1 year 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. The business’s fifty day moving average is $83.89 and its 200-day moving average is $86.22. The stock has a market cap of $112.77 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT) last released 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 firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. During the same period in the previous year, the company earned $1.46 earnings per share. Medtronic’s revenue was up 3.9% compared to the same quarter last year. Equities analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal 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 issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.23%. 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 dividend payout ratio (DPR) is presently 78.45%.

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.