Centaurus Financial Inc. Acquires 1,613 Shares of Medtronic plc (NYSE:MDT)

Centaurus Financial Inc. raised its holdings in Medtronic plc (NYSE:MDT) by 34.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,250 shares of the medical technology company’s stock after acquiring an additional 1,613 shares during the period. Centaurus Financial Inc.’s holdings in Medtronic were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. LifeSteps Financial Inc. bought a new stake in Medtronic during the 1st quarter worth approximately $27,000. Lynx Investment Advisory bought a new stake in shares of Medtronic during the second quarter worth $28,000. Tributary Capital Management LLC bought a new stake in shares of Medtronic during the first quarter worth $33,000. Fortis Group Advisors LLC lifted its position in Medtronic by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock valued at $38,000 after acquiring an additional 230 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in Medtronic in the 1st quarter worth $39,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Price Performance

Shares of NYSE MDT opened at $88.26 on Friday. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.49. The company has a market cap of $113.17 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 2.56 and a beta of 0.84. The business’s 50 day moving average price is $86.77 and its two-hundred day moving average price is $83.29. 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 (NYSE:MDT) last released its quarterly earnings data 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 firm 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 company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.20 earnings per share. On average, analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.17%. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

Analysts Set New Price Targets

Several research firms have issued reports on MDT. Citigroup lifted their price target on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Truist Financial lifted their target price on Medtronic from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and upped their price target for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Evercore ISI lifted their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. One research 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 company. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $94.21.

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.