CHICAGO TRUST Co NA Purchases 1,045 Shares of Medtronic plc (NYSE:MDT)

CHICAGO TRUST Co NA increased its position in shares of Medtronic plc (NYSE:MDT) by 10.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,378 shares of the medical technology company’s stock after purchasing an additional 1,045 shares during the period. CHICAGO TRUST Co NA’s holdings in Medtronic were worth $1,024,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MDT. Lynx Investment Advisory bought a new stake in Medtronic during the second quarter valued at about $28,000. Tributary Capital Management LLC bought a new stake in Medtronic during the 1st quarter valued at approximately $33,000. Riverview Trust Co purchased a new position in Medtronic in the 1st quarter worth approximately $39,000. Fortis Group Advisors LLC boosted its stake in Medtronic by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 230 shares during the period. Finally, Gleason Group Inc. purchased a new stake in Medtronic during the 2nd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MDT. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $98.00 to $105.00 in a research report on Thursday. Barclays increased their price objective on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Truist Financial lifted their target price on Medtronic from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Evercore ISI increased 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $95.14.

Medtronic Trading Up 0.6 %

MDT stock opened at $89.36 on Friday. The firm’s fifty day simple moving average is $87.54 and its two-hundred day simple moving average is $83.46. The stock has a market capitalization of $114.58 billion, a price-to-earnings ratio of 32.49, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.49.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. The company had revenue of $7.97 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $1.20 EPS. As a group, analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared 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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Friday, September 27th. Medtronic’s dividend payout ratio is currently 101.82%.

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.