Weatherly Asset Management L. P. Acquires Shares of 2,553 Medtronic plc (NYSE:MDT)

Weatherly Asset Management L. P. acquired a new stake in Medtronic plc (NYSE:MDT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,553 shares of the medical technology company’s stock, valued at approximately $231,000.

Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC purchased a new stake in shares of Medtronic during the 3rd quarter worth $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Medtronic during the 3rd quarter worth $27,000. Lynx Investment Advisory purchased a new stake in shares of Medtronic during the 2nd quarter worth $28,000. Gleason Group Inc. purchased a new stake in shares of Medtronic during the 2nd quarter worth $42,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Medtronic during the 2nd quarter worth $43,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on MDT. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Evercore ISI boosted their price objective 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. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. Truist Financial boosted their price objective on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Finally, Citigroup boosted their price objective on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, eight have assigned 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 company presently has an average rating of “Hold” and an average price target of $95.36.

Medtronic Trading Up 0.9 %

NYSE MDT opened at $90.07 on Friday. Medtronic plc has a 12 month low of $69.32 and a 12 month high of $92.68. The company has a 50-day moving average of $89.64 and a 200-day moving average of $84.17. 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 P/E ratio of 30.43, a P/E/G ratio of 2.55 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 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The company had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. During the same quarter in the prior year, the company posted $1.20 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts predict that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders 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 dividend yield of 3.11%. The ex-dividend date was Friday, September 27th. Medtronic’s dividend payout ratio is currently 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.