Folger Nolan Fleming Douglas Capital Management Inc. Increases Stake in Medtronic plc (NYSE:MDT)

Folger Nolan Fleming Douglas Capital Management Inc. grew its holdings in shares of Medtronic plc (NYSE:MDT) by 3.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,961 shares of the medical technology company’s stock after buying an additional 150 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Medtronic were worth $447,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Fortitude Family Office LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic during the third quarter valued at about $27,000. Lynx Investment Advisory acquired a new stake in Medtronic in the second quarter worth approximately $28,000. Gleason Group Inc. acquired a new position in shares of Medtronic in the 2nd quarter worth approximately $42,000. Finally, Opal Wealth Advisors LLC bought a new stake in Medtronic during the second quarter worth approximately $43,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Up 0.3 %

MDT opened at $90.55 on Thursday. The stock has a 50-day moving average of $89.58 and a 200 day moving average of $84.03. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. Medtronic plc has a 12 month low of $69.32 and a 12 month high of $92.68. The firm has a market cap of $116.11 billion, a P/E ratio of 32.93, a P/E/G ratio of 2.60 and a beta of 0.84.

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

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given 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 dividend payout ratio is currently 101.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Friday, October 25th. Oppenheimer lifted their price target on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Evercore ISI upped their price target on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Citigroup lifted their price target on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and a consensus price target of $95.36.

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.