Bartlett & CO. Wealth Management LLC Increases Stock Holdings in Medtronic plc (NYSE:MDT)

Bartlett & CO. Wealth Management LLC boosted its stake in Medtronic plc (NYSE:MDT) by 2.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 9,277 shares of the medical technology company’s stock after acquiring an additional 178 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Medtronic were worth $842,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wedmont Private Capital boosted its stake in shares of Medtronic by 4.6% in the first quarter. Wedmont Private Capital now owns 3,798 shares of the medical technology company’s stock worth $318,000 after acquiring an additional 166 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Medtronic by 14.8% during the 1st quarter. International Assets Investment Management LLC now owns 14,478 shares of the medical technology company’s stock worth $1,260,000 after purchasing an additional 1,871 shares during the last quarter. Ballentine Partners LLC boosted its stake in Medtronic by 25.5% during the 1st quarter. Ballentine Partners LLC now owns 13,769 shares of the medical technology company’s stock worth $1,200,000 after purchasing an additional 2,799 shares during the last quarter. CHICAGO TRUST Co NA grew its holdings in shares of Medtronic by 12.6% during the first quarter. CHICAGO TRUST Co NA now owns 10,087 shares of the medical technology company’s stock worth $879,000 after buying an additional 1,126 shares in the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC raised its position in shares of Medtronic by 3.1% in the first quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 113,779 shares of the medical technology company’s stock valued at $9,349,000 after buying an additional 3,472 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MDT shares. Robert W. Baird boosted their price target on shares of Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. 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 report on Thursday, August 15th. Citigroup increased their price target on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Tuesday, August 20th. Finally, Stifel Nicolaus upped their target price on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $95.36.

Medtronic Price Performance

Medtronic stock opened at $92.24 on Monday. The company’s 50 day simple moving average is $88.45 and its 200-day simple moving average is $83.58. 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 1 year low of $68.84 and a 1 year high of $92.25. The company has a market capitalization of $118.28 billion, a price-to-earnings ratio of 33.54, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its quarterly earnings results 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 analysts’ expectations of $7.90 billion. During the same period in the prior year, the firm earned $1.20 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts expect that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Dividend Announcement

The company 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. This represents a $2.80 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is 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.