ASB Consultores LLC Buys New Position in Medtronic plc (NYSE:MDT)

ASB Consultores LLC purchased a new position in shares of Medtronic plc (NYSE:MDT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,336 shares of the medical technology company’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MDT. Fortitude Family Office LLC acquired a new stake in Medtronic during the third quarter worth approximately $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic during the 3rd quarter worth $27,000. Lynx Investment Advisory acquired a new stake in shares of Medtronic during the second quarter worth $28,000. Gleason Group Inc. acquired a new position in Medtronic in the second quarter valued at $42,000. Finally, Opal Wealth Advisors LLC purchased a new position in Medtronic during the second quarter worth about $43,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MDT has been the subject of a number of research analyst reports. Robert W. Baird upped their price objective on shares of Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Oppenheimer increased their price target on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Evercore ISI boosted their target price on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Truist Financial lifted their price target on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, October 14th. 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 given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $95.36.

Medtronic Stock Up 0.4 %

NYSE:MDT opened at $89.68 on Wednesday. The company has a market capitalization of $115.01 billion, a price-to-earnings ratio of 30.30, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a one year low of $69.32 and a one year high of $92.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The stock has a 50-day simple moving average of $89.66 and a 200 day simple moving average of $84.34.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The firm had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. During the same quarter in the prior year, the firm posted $1.20 EPS. Medtronic’s revenue was up 3.4% compared to the same quarter last year. Sell-side analysts predict that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.12%. The ex-dividend date was Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is presently 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.