Diversify Wealth Management LLC Acquires 739 Shares of Medtronic plc (NYSE:MDT)

Diversify Wealth Management LLC lifted its holdings in Medtronic plc (NYSE:MDT) by 2.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,870 shares of the medical technology company’s stock after buying an additional 739 shares during the quarter. Diversify Wealth Management LLC’s holdings in Medtronic were worth $2,848,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MDT. Clear Harbor Asset Management LLC raised its holdings in Medtronic by 1.2% during the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock worth $861,000 after acquiring an additional 111 shares in the last quarter. First PREMIER Bank raised its holdings in shares of Medtronic by 1.8% in the 3rd quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after purchasing an additional 116 shares during the period. Precision Wealth Strategies LLC lifted its stake in Medtronic by 3.3% in the 3rd quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock valued at $337,000 after purchasing an additional 118 shares during the last quarter. Lake Street Advisors Group LLC boosted its stake in shares of Medtronic by 2.0% during the 3rd quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock worth $547,000 after acquiring an additional 118 shares during the period. Finally, Quent Capital LLC increased its holdings in shares of Medtronic by 8.0% during the 1st quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock worth $146,000 after acquiring an additional 125 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MDT. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Friday, October 25th. Evercore ISI increased their target price on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Citigroup lifted their target price on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Finally, Wells Fargo & Company raised their price target on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.36.

Medtronic Price Performance

MDT stock traded up $0.29 during trading on Wednesday, reaching $90.61. 2,116,266 shares of the company were exchanged, compared to its average volume of 6,191,615. Medtronic plc has a twelve month low of $69.32 and a twelve month high of $92.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. The company has a market capitalization of $116.19 billion, a price-to-earnings ratio of 32.85, a P/E/G ratio of 2.60 and a beta of 0.84. The company has a 50-day moving average of $89.52 and a two-hundred day moving average of $83.98.

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, beating the consensus estimate of $1.20 by $0.03. The company had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. Medtronic’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. As a group, equities analysts predict that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a $0.70 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.09%. Medtronic’s payout ratio 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.