Medtronic plc (NYSE:MDT) Shares Purchased by National Pension Service

National Pension Service lifted its position in Medtronic plc (NYSE:MDT) by 14.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,678,032 shares of the medical technology company’s stock after purchasing an additional 347,967 shares during the period. National Pension Service owned about 0.21% of Medtronic worth $241,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MDT shares. Stifel Nicolaus raised their target price on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and raised their target price for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Truist Financial lifted their price objective on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Citigroup upped their price target on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $95.36.

Medtronic Price Performance

NYSE:MDT opened at $90.30 on Monday. The firm has a market cap of $115.81 billion, a price-to-earnings ratio of 30.54, a price-to-earnings-growth ratio of 2.55 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average is $89.64 and its two-hundred day moving average is $84.20. Medtronic plc has a 12-month low of $69.32 and a 12-month high of $92.68.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating 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 net margin of 12.06% and a return on equity of 13.68%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.20 EPS. Research analysts expect that Medtronic plc will post 5.44 EPS 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 issued a dividend of $0.70 per share. The ex-dividend date was Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. Medtronic’s 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.