Moloney Securities Asset Management LLC Buys 958 Shares of Medtronic plc (NYSE:MDT)

Moloney Securities Asset Management LLC lifted its position in Medtronic plc (NYSE:MDT) by 2.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 34,384 shares of the medical technology company’s stock after acquiring an additional 958 shares during the period. Moloney Securities Asset Management LLC’s holdings in Medtronic were worth $3,096,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC bought a new position in Medtronic during the 3rd quarter worth $27,000. Highline Wealth Partners LLC bought a new position in Medtronic during the third quarter worth about $27,000. Lynx Investment Advisory acquired a new stake in Medtronic in the 2nd quarter worth about $28,000. Gleason Group Inc. bought a new stake in Medtronic in the 2nd quarter valued at about $42,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Medtronic during the 2nd quarter worth approximately $43,000. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Down 0.8 %

Shares of NYSE:MDT opened at $89.31 on Tuesday. The firm has a market cap of $114.54 billion, a P/E ratio of 30.17, a P/E/G ratio of 2.57 and a beta of 0.84. Medtronic plc has a 12-month low of $69.32 and a 12-month high of $92.68. The business has a fifty day simple moving average of $89.64 and a 200 day simple moving average of $84.27. 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 posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 earnings per share. Analysts predict that Medtronic plc will post 5.44 earnings per share for the current 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 paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio is presently 94.59%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MDT shares. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Stifel Nicolaus increased their target price on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Friday, October 25th. Finally, Daiwa America raised shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. One equities 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $95.36.

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.