Continuum Advisory LLC Purchases 9,921 Shares of Medtronic PLC (NYSE:MDT)

Continuum Advisory LLC increased its position in shares of Medtronic PLC (NYSE:MDT) by 145.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,721 shares of the medical technology company’s stock after acquiring an additional 9,921 shares during the period. Continuum Advisory LLC’s holdings in Medtronic were worth $1,503,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Burkett Financial Services LLC increased its holdings in Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after acquiring an additional 185 shares during the period. Mainstream Capital Management LLC bought a new position in shares of Medtronic in the 4th quarter worth $26,000. Rakuten Securities Inc. increased its holdings in shares of Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after buying an additional 294 shares during the last quarter. Wood Tarver Financial Group LLC bought a new position in shares of Medtronic in the 4th quarter worth $27,000. Finally, Optiver Holding B.V. bought a new position in shares of Medtronic during the 4th quarter valued at $31,000. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on MDT shares. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday. Truist Financial dropped 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. Leerink Partnrs raised shares of Medtronic to a “strong-buy” rating in a research report on Monday, June 16th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Friday, June 6th. Finally, Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and increased their price target for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.87.

Medtronic Trading Up 0.7%

Shares of NYSE MDT opened at $86.30 on Monday. Medtronic PLC has a 1 year low of $75.96 and a 1 year high of $96.25. The stock has a market cap of $110.68 billion, a P/E ratio of 23.84, a price-to-earnings-growth ratio of 2.33 and a beta of 0.79. The firm has a 50-day moving average of $84.49 and a 200 day moving average of $86.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.04. The company had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. Medtronic’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the company posted $1.46 EPS. As a group, sell-side analysts expect 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. Shareholders of record on Friday, June 27th will be paid a dividend of $0.71 per share. This is a positive change from Medtronic’s previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Friday, June 27th. Medtronic’s dividend payout ratio (DPR) is currently 77.35%.

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.