Mpwm Advisory Solutions LLC Takes $38,000 Position in Medtronic plc (NYSE:MDT)

Mpwm Advisory Solutions LLC acquired a new stake in shares of Medtronic plc (NYSE:MDT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 474 shares of the medical technology company’s stock, valued at approximately $38,000.

Several other hedge funds have also recently made changes to their positions in MDT. Assenagon Asset Management S.A. grew its position in Medtronic by 3.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 60,400 shares of the medical technology company’s stock valued at $4,825,000 after buying an additional 1,926 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in Medtronic during the fourth quarter valued at approximately $280,000. Merit Financial Group LLC grew its position in Medtronic by 327.8% during the fourth quarter. Merit Financial Group LLC now owns 23,270 shares of the medical technology company’s stock valued at $1,859,000 after buying an additional 17,831 shares during the period. Addenda Capital Inc. grew its position in Medtronic by 25.3% during the fourth quarter. Addenda Capital Inc. now owns 81,611 shares of the medical technology company’s stock valued at $6,564,000 after buying an additional 16,471 shares during the period. Finally, Ballentine Partners LLC grew its position in Medtronic by 24.6% during the fourth quarter. Ballentine Partners LLC now owns 16,287 shares of the medical technology company’s stock valued at $1,301,000 after buying an additional 3,215 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Performance

MDT opened at $86.19 on Wednesday. The firm has a market cap of $110.54 billion, a P/E ratio of 26.20, a PEG ratio of 2.22 and a beta of 0.81. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The company has a 50 day simple moving average of $85.71 and a two-hundred day simple moving average of $86.57. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

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

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a dividend of $0.70 per share. The ex-dividend date was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.25%. Medtronic’s dividend payout ratio is 85.11%.

Analyst Ratings Changes

MDT has been the subject of several recent research reports. Truist Financial cut their target price 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. Robert W. Baird boosted their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Monday. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their target price for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. One investment 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 company’s stock. According to data from MarketBeat, Medtronic currently has an average rating of “Hold” and an average price target of $96.14.

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.