XTX Topco Ltd Makes New $2.74 Million Investment in Medtronic plc (NYSE:MDT)

XTX Topco Ltd bought a new stake in Medtronic plc (NYSE:MDT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 34,821 shares of the medical technology company’s stock, valued at approximately $2,741,000.

A number of other hedge funds have also made changes to their positions in the company. WCG Wealth Advisors LLC increased its holdings in Medtronic by 13.1% during the 2nd quarter. WCG Wealth Advisors LLC now owns 23,374 shares of the medical technology company’s stock valued at $1,840,000 after acquiring an additional 2,706 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Medtronic by 30.3% in the second quarter. Hsbc Holdings PLC now owns 1,161,329 shares of the medical technology company’s stock valued at $91,809,000 after purchasing an additional 270,368 shares in the last quarter. First Washington CORP grew its position in shares of Medtronic by 2.0% in the second quarter. First Washington CORP now owns 44,253 shares of the medical technology company’s stock valued at $3,483,000 after purchasing an additional 866 shares during the last quarter. CCLA Investment Management increased its stake in shares of Medtronic by 2.1% during the 2nd quarter. CCLA Investment Management now owns 100,178 shares of the medical technology company’s stock worth $7,885,000 after purchasing an additional 2,024 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Medtronic by 30.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 88,294 shares of the medical technology company’s stock worth $6,846,000 after purchasing an additional 20,666 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Down 0.6 %

Shares of MDT opened at $88.13 on Thursday. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.49. The firm has a market capitalization of $113.01 billion, a P/E ratio of 32.05, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The stock’s fifty day simple moving average is $84.32 and its 200 day simple moving average is $82.91.

Medtronic (NYSE:MDT) last released its quarterly earnings data 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. 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 period last year, the business posted $1.20 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Friday, September 27th. Medtronic’s payout ratio is currently 101.82%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MDT. Stifel Nicolaus raised their price target on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Piper Sandler lifted their price objective on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Oppenheimer upped their target price on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a report on Wednesday, August 21st. Wells Fargo & Company raised their price target on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Truist Financial upped their price objective on shares of Medtronic from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Medtronic has a consensus rating of “Hold” and an average target price of $92.92.

Medtronic 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.