Sfmg LLC Has $3.75 Million Stake in Medtronic plc (NYSE:MDT)

Sfmg LLC boosted its stake in Medtronic plc (NYSE:MDT) by 3.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,615 shares of the medical technology company’s stock after buying an additional 1,708 shares during the quarter. Sfmg LLC’s holdings in Medtronic were worth $3,748,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Boyar Asset Management Inc. boosted its stake in Medtronic by 2.6% in the fourth quarter. Boyar Asset Management Inc. now owns 4,655 shares of the medical technology company’s stock worth $383,000 after purchasing an additional 120 shares in the last quarter. Quent Capital LLC boosted its stake in Medtronic by 8.0% in the first quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock worth $146,000 after purchasing an additional 125 shares in the last quarter. Abbrea Capital LLC boosted its stake in Medtronic by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock worth $446,000 after purchasing an additional 125 shares in the last quarter. Waterway Wealth Management LLC boosted its stake in Medtronic by 4.8% in the second quarter. Waterway Wealth Management LLC now owns 2,759 shares of the medical technology company’s stock worth $217,000 after purchasing an additional 126 shares in the last quarter. Finally, Angeles Investment Advisors LLC boosted its stake in Medtronic by 1.0% in the fourth quarter. Angeles Investment Advisors LLC now owns 12,627 shares of the medical technology company’s stock worth $1,046,000 after purchasing an additional 128 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $89.76 on Wednesday. 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 twelve month low of $68.84 and a twelve month high of $91.49. The firm’s 50 day moving average price is $85.26 and its two-hundred day moving average price is $83.02. The firm has a market cap of $115.12 billion, a P/E ratio of 32.64, a PEG ratio of 2.56 and a beta of 0.84.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The firm had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. On average, analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

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 issued a $0.70 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.12%. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MDT shares. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. The Goldman Sachs Group started coverage on Medtronic in a research report on Thursday, May 30th. They set a “sell” rating and a $83.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Tuesday, August 20th. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Finally, Oppenheimer boosted their target price on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $92.92.

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.