Tidal Investments LLC Sells 2,050 Shares of Medtronic plc (NYSE:MDT)

Tidal Investments LLC trimmed its position in shares of Medtronic plc (NYSE:MDT) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,801 shares of the medical technology company’s stock after selling 2,050 shares during the period. Tidal Investments LLC’s holdings in Medtronic were worth $6,774,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Mainstream Capital Management LLC bought a new stake in Medtronic during the fourth quarter valued at about $26,000. Stephens Consulting LLC lifted its stake in shares of Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after buying an additional 204 shares during the period. Rakuten Securities Inc. lifted its stake in shares of Medtronic by 753.8% in the fourth 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 during the period. Optiver Holding B.V. bought a new stake in shares of Medtronic in the fourth quarter valued at about $31,000. Finally, Chapman Financial Group LLC bought a new stake in shares of Medtronic in the fourth quarter valued at about $33,000. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Monday. UBS Group increased their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Robert W. Baird increased their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Truist Financial reduced their target price on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $96.14.

Medtronic Stock Up 0.6%

Shares of MDT opened at $86.94 on Tuesday. The stock has a market cap of $111.50 billion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 2.22 and a beta of 0.81. The company has a 50-day moving average price of $85.83 and a two-hundred day moving average price of $86.57. 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 12 month low of $75.96 and a 12 month high of $96.25.

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

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Friday, March 28th. Medtronic’s payout ratio is 85.11%.

Medtronic Company 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.