Vident Advisory LLC Has $3.06 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Vident Advisory LLC lessened its holdings in Medtronic plc (NYSE:MDT) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,361 shares of the medical technology company’s stock after selling 353 shares during the period. Vident Advisory LLC’s holdings in Medtronic were worth $3,064,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Olstein Capital Management L.P. raised its position in Medtronic by 8.0% in the fourth quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company’s stock worth $7,509,000 after purchasing an additional 7,000 shares in the last quarter. Empowered Funds LLC raised its position in Medtronic by 2.7% in the fourth quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company’s stock worth $8,453,000 after purchasing an additional 2,778 shares in the last quarter. Caprock Group LLC raised its position in Medtronic by 12.6% in the fourth quarter. Caprock Group LLC now owns 47,767 shares of the medical technology company’s stock worth $3,849,000 after purchasing an additional 5,363 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of Medtronic by 327.8% during the fourth quarter. Merit Financial Group LLC now owns 23,270 shares of the medical technology company’s stock worth $1,859,000 after buying an additional 17,831 shares in the last quarter. Finally, Synergy Asset Management LLC increased its holdings in shares of Medtronic by 107.1% during the fourth quarter. Synergy Asset Management LLC now owns 227,802 shares of the medical technology company’s stock worth $19,353,000 after buying an additional 117,809 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on MDT shares. UBS Group raised their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Finally, Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a report on Friday, April 11th. One investment 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $96.14.

Medtronic Stock Performance

Shares of Medtronic stock opened at $86.19 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm has a market cap of $110.54 billion, a P/E ratio of 26.20, a P/E/G ratio of 2.22 and a beta of 0.81. The firm has a 50 day simple moving average of $85.71 and a 200 day simple moving average of $86.57. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating 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. Sell-side analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

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

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.