Woodstock Corp Purchases 1,506 Shares of Medtronic plc (NYSE:MDT)

Woodstock Corp boosted its holdings in shares of Medtronic plc (NYSE:MDT) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,093 shares of the medical technology company’s stock after buying an additional 1,506 shares during the quarter. Medtronic makes up approximately 1.1% of Woodstock Corp’s investment portfolio, making the stock its 26th largest position. Woodstock Corp’s holdings in Medtronic were worth $11,892,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MDT. Chemung Canal Trust Co. lifted its holdings in Medtronic by 1,467.5% during the 1st quarter. Chemung Canal Trust Co. now owns 47,902 shares of the medical technology company’s stock valued at $4,175,000 after purchasing an additional 44,846 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Medtronic during the 2nd quarter worth about $25,643,000. SageView Advisory Group LLC boosted its holdings in shares of Medtronic by 130.3% during the first quarter. SageView Advisory Group LLC now owns 16,829 shares of the medical technology company’s stock worth $1,467,000 after acquiring an additional 9,523 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Medtronic by 10.0% in the first quarter. Daiwa Securities Group Inc. now owns 135,268 shares of the medical technology company’s stock valued at $11,789,000 after purchasing an additional 12,250 shares during the last quarter. Finally, Burns J W & Co. Inc. NY increased its stake in shares of Medtronic by 17.4% during the first quarter. Burns J W & Co. Inc. NY now owns 3,276 shares of the medical technology company’s stock worth $286,000 after purchasing an additional 486 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on MDT shares. Evercore ISI increased their price objective on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Barclays lifted their price objective 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. Stifel Nicolaus raised their target price on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and boosted their price target for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Finally, Daiwa America raised Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus target price of $95.14.

Medtronic Stock Up 0.6 %

Shares of NYSE:MDT opened at $89.36 on Monday. 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 plc has a 52-week low of $68.84 and a 52-week high of $91.49. The company has a market capitalization of $114.58 billion, a PE ratio of 32.49, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84. The company has a fifty day moving average of $87.54 and a 200-day moving average of $83.44.

Medtronic (NYSE:MDT) last posted its 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. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. During the same period last year, the company earned $1.20 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities 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. Stockholders of record on Friday, September 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s payout ratio is currently 101.82%.

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.