Medtronic plc (NYSE:MDT) Shares Acquired by Relyea Zuckerberg Hanson LLC

Relyea Zuckerberg Hanson LLC grew its position in Medtronic plc (NYSE:MDT) by 28.5% during the first quarter, Holdings Channel reports. The firm owned 4,014 shares of the medical technology company’s stock after acquiring an additional 890 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in Medtronic were worth $361,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. MONECO Advisors LLC increased its holdings in shares of Medtronic by 1.8% in the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company’s stock valued at $512,000 after purchasing an additional 115 shares during the period. Faithward Advisors LLC increased its holdings in shares of Medtronic by 2.7% in the fourth quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company’s stock valued at $403,000 after purchasing an additional 134 shares during the period. Vestor Capital LLC increased its holdings in shares of Medtronic by 0.3% in the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company’s stock valued at $4,104,000 after purchasing an additional 138 shares during the period. L. Roy Papp & Associates LLP increased its holdings in shares of Medtronic by 2.8% in the first quarter. L. Roy Papp & Associates LLP now owns 5,099 shares of the medical technology company’s stock valued at $458,000 after purchasing an additional 138 shares during the period. Finally, Retirement Planning Co of New England Inc. increased its holdings in shares of Medtronic by 4.9% in the fourth quarter. Retirement Planning Co of New England Inc. now owns 2,989 shares of the medical technology company’s stock valued at $239,000 after purchasing an additional 139 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Down 1.5%

Shares of MDT opened at $87.19 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.39 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. The stock’s 50 day moving average is $84.21 and its two-hundred day moving average is $86.26. The firm has a market cap of $111.83 billion, a P/E ratio of 26.50, a PEG ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.04. The firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 earnings per share. Analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a $0.71 dividend. The ex-dividend date is Friday, June 27th. This is a positive change from Medtronic’s previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.26%. Medtronic’s payout ratio is currently 78.45%.

Analyst Upgrades and Downgrades

Several analysts recently commented on MDT shares. Robert W. Baird dropped their target price on Medtronic from $94.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. UBS Group raised their target price on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Truist Financial dropped 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Friday, June 6th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Medtronic has an average rating of “Moderate Buy” and an average price target of $97.00.

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.