Waldron Private Wealth LLC Has $528,000 Stake in Medtronic plc (NYSE:MDT)

Waldron Private Wealth LLC trimmed its position in Medtronic plc (NYSE:MDT) by 2.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,868 shares of the medical technology company’s stock after selling 131 shares during the quarter. Waldron Private Wealth LLC’s holdings in Medtronic were worth $528,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. First PREMIER Bank raised its stake in shares of Medtronic by 1.8% in the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after purchasing an additional 116 shares in the last quarter. Precision Wealth Strategies LLC raised its stake in shares of Medtronic by 3.3% in the third quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock valued at $337,000 after purchasing an additional 118 shares in the last quarter. Quent Capital LLC raised its stake in shares of Medtronic by 8.0% in the first quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock valued at $146,000 after purchasing an additional 125 shares in the last quarter. Abbrea Capital LLC raised its stake in shares of Medtronic by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock valued at $446,000 after purchasing an additional 125 shares in the last quarter. Finally, Waterway Wealth Management LLC raised its stake in shares of Medtronic by 4.8% in the second quarter. Waterway Wealth Management LLC now owns 2,759 shares of the medical technology company’s stock valued at $217,000 after purchasing an additional 126 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of analyst reports. Citigroup upped their price target on Medtronic from $85.00 to $92.00 and gave the company a “neutral” 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 Tuesday, August 20th. Oppenheimer upped their price target on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. Wells Fargo & Company upped their price target on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Piper Sandler upped their price target on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $95.36.

Medtronic Price Performance

Medtronic stock opened at $91.12 on Wednesday. The business’s 50-day simple moving average is $88.83 and its 200 day simple moving average is $83.67. The stock has a market cap of $116.84 billion, a price-to-earnings ratio of 33.13, a P/E/G ratio of 2.53 and a beta of 0.84. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $92.25. 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 results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. The business had revenue of $7.97 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 earnings per share. As a group, research analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio is 101.82%.

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.