Integral Health Asset Management LLC Decreases Position in Medtronic plc (NYSE:MDT)

Integral Health Asset Management LLC lessened its holdings in shares of Medtronic plc (NYSE:MDT) by 50.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 150,000 shares of the medical technology company’s stock after selling 150,000 shares during the period. Integral Health Asset Management LLC’s holdings in Medtronic were worth $11,982,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MDT. Mainstream Capital Management LLC purchased a new stake in shares of Medtronic during the 4th quarter valued at $26,000. Stephens Consulting LLC lifted its position in Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 204 shares during the period. Rakuten Securities Inc. lifted its position in Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 294 shares during the period. Optiver Holding B.V. acquired a new stake in Medtronic during the 4th quarter worth about $31,000. Finally, Chapman Financial Group LLC acquired a new stake in Medtronic during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of Medtronic stock opened at $83.47 on Monday. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The business has a 50-day moving average price of $86.76 and a 200 day moving average price of $86.76. The firm has a market cap of $107.05 billion, a PE ratio of 25.37, a P/E/G ratio of 2.22 and a beta of 0.81.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Sell-side analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.35%. The ex-dividend date was Friday, March 28th. Medtronic’s payout ratio is 85.11%.

Analyst Ratings Changes

A number of analysts have commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. UBS Group lifted their price target on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Truist Financial lowered their price target 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, Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $96.14.

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.