4,489 Shares in Medtronic plc (NYSE:MDT) Acquired by Savvy Advisors Inc.

Savvy Advisors Inc. bought a new stake in shares of Medtronic plc (NYSE:MDT) 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) 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.