Nilsine Partners LLC Has $288,000 Position in Medtronic PLC (NYSE:MDT)

Nilsine Partners LLC raised its stake in Medtronic PLC (NYSE:MDTFree Report) by 6.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,203 shares of the medical technology company’s stock after acquiring an additional 194 shares during the period. Nilsine Partners LLC’s holdings in Medtronic were worth $288,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC raised its holdings in Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after acquiring an additional 185 shares in the last quarter. Mainstream Capital Management LLC acquired a new position in Medtronic in the 4th quarter valued at $26,000. Rakuten Securities Inc. raised 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 acquiring an additional 294 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new position in Medtronic in the 4th quarter valued at $27,000. Finally, Optiver Holding B.V. acquired a new position in Medtronic in the 4th quarter valued at $31,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MDT. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a report on Saturday. Truist Financial lowered their price target on Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a report on Friday, April 11th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Friday, June 6th. Finally, Robert W. Baird lowered their price target on Medtronic from $94.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday, May 22nd. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.87.

Check Out Our Latest Report on Medtronic

Medtronic Price Performance

Shares of MDT opened at $86.30 on Monday. Medtronic PLC has a 12-month low of $75.96 and a 12-month high of $96.25. The business has a 50-day simple moving average of $84.49 and a two-hundred day simple moving average of $86.28. 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 has a market cap of $110.68 billion, a PE ratio of 23.84, a PEG ratio of 2.33 and a beta of 0.79.

Medtronic (NYSE:MDTGet Free Report) last issued 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 14.54% and a net margin of 13.90%. The business had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.81 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Friday, June 27th. This is a positive change from Medtronic’s previous quarterly dividend of $0.70. Medtronic’s payout ratio is 77.35%.

Medtronic Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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