Medtronic plc (NYSE:MDT) Stock Position Increased by Biechele Royce Advisors

Biechele Royce Advisors boosted its stake in shares of Medtronic plc (NYSE:MDT) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 197,754 shares of the medical technology company’s stock after buying an additional 7,612 shares during the period. Medtronic makes up approximately 5.9% of Biechele Royce Advisors’ holdings, making the stock its 5th largest holding. Biechele Royce Advisors’ holdings in Medtronic were worth $17,804,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MDT. BluePath Capital Management LLC grew its position in Medtronic by 24.4% in the 3rd quarter. BluePath Capital Management LLC now owns 9,681 shares of the medical technology company’s stock valued at $872,000 after acquiring an additional 1,900 shares during the last quarter. Visionary Horizons LLC grew its position in Medtronic by 7.2% in the 3rd quarter. Visionary Horizons LLC now owns 16,468 shares of the medical technology company’s stock valued at $1,483,000 after acquiring an additional 1,101 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in Medtronic in the 3rd quarter valued at $37,807,000. Chicago Partners Investment Group LLC grew its position in Medtronic by 37.8% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,870 shares of the medical technology company’s stock valued at $449,000 after acquiring an additional 1,337 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in Medtronic by 13.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 38,280 shares of the medical technology company’s stock valued at $3,446,000 after acquiring an additional 4,490 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.9 %

NYSE MDT traded up $0.82 during trading on Friday, hitting $90.07. The company’s stock had a trading volume of 5,052,408 shares, compared to its average volume of 6,204,974. 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 cap of $115.51 billion, a PE ratio of 30.43, a P/E/G ratio of 2.59 and a beta of 0.84. The business’s 50 day simple moving average is $89.64 and its 200-day simple moving average is $84.13. Medtronic plc has a fifty-two week low of $69.32 and a fifty-two week high of $92.68.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $7.90 billion. During the same period in the previous year, the company posted $1.20 earnings per share. Medtronic’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities analysts anticipate that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Friday, September 27th. Medtronic’s payout ratio is 94.59%.

Wall Street Analyst Weigh In

MDT has been the topic of a number of recent research reports. Stifel Nicolaus increased their price target on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Daiwa America raised Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Truist Financial increased their price target on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Finally, Citigroup increased 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 issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $95.36.

Medtronic 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.