Chicago Partners Investment Group LLC Purchases 1,337 Shares of Medtronic plc (NYSE:MDT)

Chicago Partners Investment Group LLC boosted its position in Medtronic plc (NYSE:MDT) by 37.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,870 shares of the medical technology company’s stock after acquiring an additional 1,337 shares during the period. Chicago Partners Investment Group LLC’s holdings in Medtronic were worth $449,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MDT. Fortitude Family Office LLC bought a new stake in Medtronic in the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC bought a new stake in Medtronic in the 3rd quarter valued at about $27,000. Lynx Investment Advisory bought a new stake in Medtronic in the 2nd quarter valued at about $28,000. Gleason Group Inc. bought a new stake in Medtronic in the 2nd quarter valued at about $42,000. Finally, Opal Wealth Advisors LLC bought a new stake in Medtronic in the 2nd quarter valued at about $43,000. 82.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Barclays upped their price target on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Stifel Nicolaus upped their price objective on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company upped their price objective on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Medtronic currently has an average rating of “Hold” and an average price target of $95.36.

Medtronic Stock Performance

NYSE:MDT opened at $89.31 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. Medtronic plc has a 1 year low of $69.32 and a 1 year high of $92.68. The stock’s 50 day simple moving average is $89.64 and its two-hundred day simple moving average is $84.27. The company has a market cap of $114.54 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 2.55 and a beta of 0.84.

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

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio is currently 94.59%.

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.