12,553 Shares in Medtronic plc (NYSE:MDT) Acquired by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC purchased a new stake in Medtronic plc (NYSE:MDT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,553 shares of the medical technology company’s stock, valued at approximately $1,003,000.

A number of other hedge funds have also recently made changes to their positions in MDT. Mainstream Capital Management LLC bought a new position in shares of Medtronic during the 4th quarter valued at $26,000. Rakuten Securities Inc. grew its holdings 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 worth $27,000 after purchasing an additional 294 shares during the last quarter. Stephens Consulting LLC grew its holdings in Medtronic by 145.7% in 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 last quarter. Optiver Holding B.V. purchased a new position in shares of Medtronic in the fourth quarter valued at about $31,000. Finally, Chapman Financial Group LLC bought a new position in shares of Medtronic during the fourth quarter valued at about $33,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MDT has been the subject of several research reports. Robert W. Baird upped their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Truist Financial reduced their target price on Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and upped their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus price target of $96.14.

Medtronic Trading Up 2.0%

NYSE MDT opened at $85.96 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The firm has a market cap of $110.25 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 2.22 and a beta of 0.81. The firm has a 50 day simple moving average of $86.07 and a 200-day simple moving average of $86.67. Medtronic plc has a one year low of $75.96 and a one year high of $96.25.

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

Medtronic Dividend Announcement

The company also recently declared 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. The ex-dividend date was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.26%. Medtronic’s dividend payout ratio (DPR) is presently 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.