Clarius Group LLC Has $371,000 Stock Holdings in Medtronic PLC (NYSE:MDT)

Clarius Group LLC increased its stake in shares of Medtronic PLC (NYSE:MDT) by 7.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,128 shares of the medical technology company’s stock after buying an additional 285 shares during the period. Clarius Group LLC’s holdings in Medtronic were worth $371,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Burkett Financial Services LLC grew its position in shares of Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 185 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in Medtronic in the 4th quarter valued at $26,000. Rakuten Securities Inc. grew its holdings in 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. Wood Tarver Financial Group LLC bought a new position in Medtronic during the 4th quarter worth $27,000. Finally, Optiver Holding B.V. acquired a new stake in shares of Medtronic during the fourth quarter worth $31,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE:MDT opened at $85.68 on Friday. Medtronic PLC has a twelve month low of $75.96 and a twelve month high of $96.25. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The stock’s 50-day simple moving average is $84.42 and its 200 day simple moving average is $86.26. The firm has a market capitalization of $109.88 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 2.31 and a beta of 0.79.

Medtronic (NYSE:MDT) last posted its quarterly earnings results 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 company had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company posted $1.46 EPS. On average, analysts anticipate 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. Investors of record on Friday, June 27th will be issued a dividend of $0.71 per share. This is an increase from Medtronic’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.84 annualized dividend and a dividend yield of 3.31%. Medtronic’s dividend payout ratio (DPR) is 77.35%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Robert W. Baird decreased their price target on shares of Medtronic from $94.00 to $92.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. Leerink Partners assumed coverage on shares of Medtronic in a research report on Monday. They set an “outperform” rating and a $110.00 target price on the stock. Mizuho lowered their target price on shares of Medtronic from $100.00 to $98.00 and set an “outperform” rating on the stock in a report on Thursday, May 22nd. Wall Street Zen downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Finally, Truist Financial reduced their price target on Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Medtronic has an average rating of “Moderate Buy” and a consensus target price of $97.87.

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.