Comprehensive Financial Consultants Institutional Inc. Grows Stock Holdings in Medtronic plc (NYSE:MDT)

Comprehensive Financial Consultants Institutional Inc. boosted its stake in shares of Medtronic plc (NYSE:MDT) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,645 shares of the medical technology company’s stock after buying an additional 1,588 shares during the period. Medtronic makes up about 1.4% of Comprehensive Financial Consultants Institutional Inc.’s investment portfolio, making the stock its 21st largest holding. Comprehensive Financial Consultants Institutional Inc.’s holdings in Medtronic were worth $3,929,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in shares of Medtronic during the third quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new position in Medtronic in the 3rd quarter valued at approximately $27,000. Lynx Investment Advisory purchased a new stake in Medtronic during the 2nd quarter valued at $28,000. Gleason Group Inc. bought a new stake in shares of Medtronic in the 2nd quarter worth $42,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Medtronic in the second quarter worth $43,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 2.2 %

NYSE MDT opened at $88.12 on Friday. Medtronic plc has a 52 week low of $69.32 and a 52 week high of $92.68. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $113.01 billion, a P/E ratio of 29.77, a price-to-earnings-growth ratio of 2.55 and a beta of 0.84. The stock’s 50-day moving average price is $89.69 and its 200-day moving average price is $84.38.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 EPS. On average, equities research analysts predict that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio is currently 94.59%.

Analyst Upgrades and Downgrades

MDT has been the topic of several recent analyst reports. Citigroup increased their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Barclays lifted their price target on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Friday, October 25th. Truist Financial boosted their target price on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Finally, UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and upped their price objective for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic presently has an average rating of “Hold” and a consensus price target of $95.36.

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.