Rational Advisors Inc. Takes Position in Medtronic PLC $MDT

Rational Advisors Inc. purchased a new stake in shares of Medtronic PLC (NYSE:MDT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 30,400 shares of the medical technology company’s stock, valued at approximately $2,920,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lodestone Wealth Management LLC bought a new position in shares of Medtronic during the fourth quarter valued at $27,000. Anfield Capital Management LLC lifted its holdings in shares of Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 230 shares in the last quarter. Board of the Pension Protection Fund bought a new position in shares of Medtronic during the fourth quarter valued at $29,000. GoalVest Advisory LLC bought a new position in shares of Medtronic during the fourth quarter valued at $29,000. Finally, Imprint Wealth LLC bought a new position in shares of Medtronic during the third quarter valued at $31,000. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Down 0.3%

Medtronic stock opened at $73.72 on Wednesday. The stock has a market cap of $94.65 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.76 and a beta of 0.58. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. Medtronic PLC has a one year low of $73.31 and a one year high of $106.33. The stock has a fifty day moving average of $82.11 and a 200 day moving average of $92.49.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Friday, March 27th. Medtronic’s dividend payout ratio is 79.11%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Argus lowered their price target on Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Piper Sandler lowered their price target on Medtronic from $105.00 to $91.00 and set a “neutral” rating on the stock in a report on Wednesday, April 1st. Citigroup lowered their price target on Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Daiwa Securities Group lowered their price target on Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, Stifel Nicolaus reduced their price objective on Medtronic from $105.00 to $95.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $106.45.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).