Medtronic plc (NYSE:MDT) Shares Bought by CX Institutional

CX Institutional grew its position in Medtronic plc (NYSE:MDT) by 9.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,290 shares of the medical technology company’s stock after buying an additional 608 shares during the quarter. CX Institutional’s holdings in Medtronic were worth $656,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MDT. Lynx Investment Advisory purchased a new stake in shares of Medtronic in the second quarter valued at about $28,000. Tributary Capital Management LLC purchased a new stake in Medtronic in the 1st quarter valued at approximately $33,000. Riverview Trust Co acquired a new stake in Medtronic during the 1st quarter valued at $39,000. Gleason Group Inc. purchased a new position in Medtronic during the second quarter worth $42,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Medtronic in the second quarter worth $43,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on MDT shares. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Tuesday, August 20th. Wells Fargo & Company lifted their price target on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Evercore ISI upped their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Finally, Oppenheimer increased their price target on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.36.

Medtronic Trading Up 0.2 %

NYSE MDT opened at $89.99 on Thursday. The firm has a market capitalization of $115.39 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 2.53 and a beta of 0.84. 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 one year low of $68.84 and a one year high of $91.49. The company’s 50 day moving average price is $88.10 and its 200 day moving average price is $83.52.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS 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 business had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. During the same quarter last year, the firm posted $1.20 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, sell-side analysts predict that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. 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.