Blake Schutter Theil Wealth Advisors LLC Buys New Shares in Medtronic plc (NYSE:MDT)

Blake Schutter Theil Wealth Advisors LLC purchased a new position in Medtronic plc (NYSE:MDT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,776 shares of the medical technology company’s stock, valued at approximately $700,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Two Point Capital Management Inc. grew its position in shares of Medtronic by 1.1% during the third quarter. Two Point Capital Management Inc. now owns 91,722 shares of the medical technology company’s stock worth $8,258,000 after purchasing an additional 965 shares in the last quarter. JNBA Financial Advisors boosted its stake in Medtronic by 1.7% in the 3rd quarter. JNBA Financial Advisors now owns 28,588 shares of the medical technology company’s stock worth $2,574,000 after purchasing an additional 480 shares during the period. Spinnaker Trust boosted its stake in Medtronic by 0.7% in the 3rd quarter. Spinnaker Trust now owns 24,808 shares of the medical technology company’s stock worth $2,233,000 after purchasing an additional 162 shares during the period. Maia Wealth LLC purchased a new stake in Medtronic during the 3rd quarter valued at approximately $212,000. Finally, Foster & Motley Inc. raised its position in shares of Medtronic by 22.6% during the third quarter. Foster & Motley Inc. now owns 25,076 shares of the medical technology company’s stock valued at $2,258,000 after buying an additional 4,619 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Up 0.5 %

MDT stock opened at $90.09 on Thursday. Medtronic plc has a twelve month low of $69.32 and a twelve month high of $92.68. The stock has a market capitalization of $115.54 billion, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of 2.55 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. The firm’s fifty day simple moving average is $89.69 and its two-hundred day simple moving average is $84.38.

Medtronic (NYSE:MDT) last issued its quarterly earnings results 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 net margin of 12.06% and a return on equity of 13.68%. The company had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. During the same period in the prior year, the firm posted $1.20 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. As a group, analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Dividend Announcement

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

Wall Street Analyst Weigh In

MDT has been the subject of a number of research reports. Stifel Nicolaus upped their target price on shares of 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 upgraded Medtronic from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Evercore ISI boosted their target price on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Piper Sandler increased their price target on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Finally, UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently 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.