Medtronic plc (NYSE:MDT) Shares Acquired by Butensky & Cohen Financial Security Inc.

Butensky & Cohen Financial Security Inc. lifted its position in shares of Medtronic plc (NYSE:MDT) by 1.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,117 shares of the medical technology company’s stock after purchasing an additional 638 shares during the period. Medtronic comprises 1.5% of Butensky & Cohen Financial Security Inc.’s portfolio, making the stock its 27th largest position. Butensky & Cohen Financial Security Inc.’s holdings in Medtronic were worth $4,773,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Mainstream Capital Management LLC bought a new stake in shares of Medtronic in the fourth quarter worth $26,000. Burkett Financial Services LLC increased its stake in shares of Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after buying an additional 185 shares during the last quarter. Rakuten Securities Inc. increased its stake 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 buying an additional 294 shares during the last quarter. Wood Tarver Financial Group LLC bought a new stake in shares of Medtronic in the fourth quarter worth $27,000. Finally, Optiver Holding B.V. bought a new stake in shares of Medtronic in the fourth quarter worth $31,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of research analyst reports. Royal Bank of Canada dropped their price target on shares of Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a research note on Thursday, May 22nd. Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Robert W. Baird dropped their price target on shares of Medtronic from $94.00 to $92.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Finally, Truist Financial dropped their price target on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $97.00.

Medtronic Stock Up 0.4%

MDT stock opened at $87.38 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The firm has a fifty day moving average price of $83.92 and a two-hundred day moving average price of $86.17. The firm has a market cap of $112.07 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.58 by $0.04. The business had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 earnings per share. Research analysts predict that Medtronic plc will post 5.46 EPS for the current 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 given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.84 annualized dividend and a dividend yield of 3.25%. This is a positive change from Medtronic’s previous quarterly dividend of $0.70. Medtronic’s dividend payout ratio is currently 78.45%.

About Medtronic

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.