Catalyst Capital Advisors LLC Acquires 3,120 Shares of Medtronic plc (NYSE:MDT)

Catalyst Capital Advisors LLC grew its holdings in Medtronic plc (NYSE:MDT) by 12.1% in the third quarter, Holdings Channel reports. The firm owned 28,920 shares of the medical technology company’s stock after buying an additional 3,120 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Medtronic were worth $2,604,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MDT. Whittier Trust Co. increased its holdings in shares of Medtronic by 3.5% in the 1st quarter. Whittier Trust Co. now owns 9,502 shares of the medical technology company’s stock worth $828,000 after purchasing an additional 319 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Medtronic by 5.1% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 13,743 shares of the medical technology company’s stock worth $1,198,000 after purchasing an additional 672 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Medtronic in the 1st quarter worth $183,000. GSA Capital Partners LLP increased its holdings in shares of Medtronic by 73.0% in the 1st 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 in the last quarter. Finally, Commerce Bank grew its holdings in shares of Medtronic by 1.5% in the first quarter. Commerce Bank now owns 173,345 shares of the medical technology company’s stock worth $15,107,000 after acquiring an additional 2,622 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of Medtronic stock opened at $89.31 on Tuesday. The stock’s 50-day simple moving average is $89.64 and its 200-day simple moving average is $84.27. Medtronic plc has a 52 week low of $69.32 and a 52 week high of $92.68. The company has a market capitalization of $114.54 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 2.57 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55.

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

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.14%. Medtronic’s dividend payout ratio is currently 94.59%.

Analyst Ratings Changes

Several analysts recently commented on the company. Stifel Nicolaus lifted their price objective on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Evercore ISI lifted their price objective on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Wells Fargo & Company lifted their price objective on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Citigroup lifted their price objective on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.