Savvy Advisors Inc. bought a new stake in shares of Medtronic plc (NYSE:MDT – Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,489 shares of the medical technology company’s stock, valued at approximately $404,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Fortitude Family Office LLC bought a new stake in Medtronic in the 3rd quarter worth about $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic in the third quarter worth approximately $27,000. Lynx Investment Advisory purchased a new position in shares of Medtronic during the second quarter valued at approximately $28,000. Gleason Group Inc. bought a new position in Medtronic during the second quarter valued at approximately $42,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Medtronic in the second quarter worth approximately $43,000. Institutional investors own 82.06% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have weighed in on MDT shares. Stifel Nicolaus boosted their target price on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Friday, October 25th. Evercore ISI boosted their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Finally, Piper Sandler boosted their target price on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $95.36.
Medtronic Trading Down 0.0 %
Shares of MDT stock opened at $88.25 on Wednesday. The stock has a fifty day simple moving average of $89.67 and a two-hundred day simple moving average of $84.57. Medtronic plc has a 52-week low of $71.64 and a 52-week high of $92.68. The firm has a market capitalization of $113.18 billion, a PE ratio of 29.81, a PEG ratio of 2.52 and a beta of 0.84. 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 (NYSE:MDT – Get Free Report) last issued its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. During the same quarter last year, the company earned $1.20 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. On average, analysts predict that Medtronic plc will post 5.44 EPS for the current fiscal year.
Medtronic Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors 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 annualized dividend and a yield of 3.17%. Medtronic’s payout ratio is 94.59%.
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.
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