CWA Asset Management Group LLC Purchases New Stake in Medtronic plc (NYSE:MDT)

CWA Asset Management Group LLC bought a new position in Medtronic plc (NYSE:MDT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,639 shares of the medical technology company’s stock, valued at approximately $418,000.

Several other large investors have also modified their holdings of the stock. GSA Capital Partners LLP lifted its stake in Medtronic by 73.0% during the first quarter. GSA Capital Partners LLP now owns 4,945 shares of the medical technology company’s stock worth $431,000 after purchasing an additional 2,086 shares during the last quarter. Quantbot Technologies LP bought a new position in Medtronic in the first quarter worth about $904,000. Meeder Asset Management Inc. grew its holdings in shares of Medtronic by 11.3% during the first quarter. Meeder Asset Management Inc. now owns 3,692 shares of the medical technology company’s stock valued at $322,000 after purchasing an additional 375 shares during the last quarter. Thoroughbred Financial Services LLC bought a new position in shares of Medtronic during the first quarter valued at approximately $404,000. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Medtronic by 1.8% in the 1st quarter. Bleakley Financial Group LLC now owns 55,798 shares of the medical technology company’s stock worth $4,863,000 after purchasing an additional 995 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MDT. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and upped their target price for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Stifel Nicolaus boosted their price objective on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Robert W. Baird raised their target price on Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Finally, Citigroup boosted their price target on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $95.36.

Medtronic Stock Up 0.6 %

NYSE MDT opened at $88.27 on Tuesday. Medtronic plc has a 12 month low of $71.64 and a 12 month high of $92.68. The company has a market capitalization of $113.20 billion, a P/E ratio of 29.82, a PEG ratio of 2.51 and a beta of 0.84. The company’s 50 day simple moving average is $89.68 and its 200 day simple moving average is $84.51. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. The business had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company posted $1.20 EPS. Equities research analysts expect that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio is presently 94.59%.

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.