Cantor Fitzgerald Investment Advisors L.P. Has $18.71 Million Stock Position in Medtronic plc (NYSE:MDT)

Cantor Fitzgerald Investment Advisors L.P. grew its position in Medtronic plc (NYSE:MDT) by 0.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 207,802 shares of the medical technology company’s stock after purchasing an additional 206 shares during the quarter. Medtronic makes up about 1.3% of Cantor Fitzgerald Investment Advisors L.P.’s portfolio, making the stock its 26th largest position. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Medtronic were worth $18,708,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MDT. Lynx Investment Advisory bought a new position in shares of Medtronic in the 2nd quarter worth about $28,000. Tributary Capital Management LLC bought a new position in Medtronic during the first quarter worth $33,000. Gleason Group Inc. acquired a new stake in Medtronic in the second quarter worth $42,000. Opal Wealth Advisors LLC bought a new stake in Medtronic in the second quarter valued at $43,000. Finally, Olistico Wealth LLC acquired a new stake in Medtronic in the second quarter valued at approximately $45,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MDT has been the topic of a number of research reports. Barclays upped their target price on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Citigroup lifted their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and raised their price target for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Friday. Finally, Wells Fargo & Company raised their price target on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $95.36.

Medtronic Stock Performance

NYSE:MDT opened at $90.60 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $92.68. The firm has a market capitalization of $116.17 billion, a PE ratio of 32.95, a P/E/G ratio of 2.60 and a beta of 0.84. The stock has a 50-day simple moving average of $89.42 and a two-hundred day simple moving average of $83.91.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The company had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. During the same period in the previous year, the firm earned $1.20 earnings per share. Medtronic’s quarterly revenue was up 3.4% compared to the same quarter last year. Analysts forecast that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.09%. Medtronic’s payout ratio is 101.82%.

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.