Medtronic plc (NYSE:MDT) Shares Acquired by Gen Wealth Partners Inc

Gen Wealth Partners Inc increased its holdings in shares of Medtronic plc (NYSE:MDT) by 2.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,977 shares of the medical technology company’s stock after acquiring an additional 168 shares during the period. Gen Wealth Partners Inc’s holdings in Medtronic were worth $557,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in Medtronic by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 365,780 shares of the medical technology company’s stock valued at $29,219,000 after acquiring an additional 4,371 shares during the period. ST Germain D J Co. Inc. lifted its holdings in Medtronic by 2.3% during the fourth quarter. ST Germain D J Co. Inc. now owns 81,301 shares of the medical technology company’s stock valued at $6,494,000 after purchasing an additional 1,796 shares in the last quarter. Hilltop National Bank grew its position in shares of Medtronic by 1.9% in the fourth quarter. Hilltop National Bank now owns 22,781 shares of the medical technology company’s stock valued at $1,820,000 after purchasing an additional 424 shares during the period. Franklin Street Advisors Inc. NC increased its stake in shares of Medtronic by 32.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock worth $5,873,000 after purchasing an additional 18,057 shares in the last quarter. Finally, HBW Advisory Services LLC raised its position in shares of Medtronic by 0.9% during the 4th quarter. HBW Advisory Services LLC now owns 34,284 shares of the medical technology company’s stock worth $2,739,000 after purchasing an additional 299 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE:MDT opened at $83.47 on Friday. The company’s 50-day moving average is $86.76 and its two-hundred day moving average is $86.83. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. 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 capitalization of $107.05 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 2.22 and a beta of 0.81.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed 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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date was Friday, March 28th. Medtronic’s payout ratio is 85.11%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MDT shares. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Robert W. Baird boosted their price target on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Truist Financial decreased their price objective on Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, April 11th. UBS Group upped their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and raised their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $96.14.

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.