Blake Schutter Theil Wealth Advisors LLC Makes New $700,000 Investment in Medtronic plc (NYSE:MDT)

Blake Schutter Theil Wealth Advisors LLC purchased a new stake in Medtronic plc (NYSE:MDT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,776 shares of the medical technology company’s stock, valued at approximately $700,000.

Several other institutional investors have also recently made changes to their positions in MDT. Central Pacific Bank Trust Division bought a new position in shares of Medtronic in the first quarter worth $183,000. GSA Capital Partners LLP increased its stake in 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 acquiring an additional 2,086 shares during the last quarter. Csenge Advisory Group raised its holdings in shares of Medtronic by 18.8% in the 1st quarter. Csenge Advisory Group now owns 11,521 shares of the medical technology company’s stock valued at $1,004,000 after acquiring an additional 1,820 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of Medtronic by 16.9% during the 1st quarter. Advisory Services Network LLC now owns 80,197 shares of the medical technology company’s stock valued at $6,989,000 after acquiring an additional 11,569 shares during the last quarter. Finally, OLD Second National Bank of Aurora grew its holdings in shares of Medtronic by 3.9% during the first quarter. OLD Second National Bank of Aurora now owns 37,369 shares of the medical technology company’s stock worth $3,257,000 after purchasing an additional 1,411 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

MDT has been the subject of a number of research analyst reports. Barclays increased their price target on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Evercore ISI lifted their target price on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Robert W. Baird raised their price objective on Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Truist Financial boosted their target price on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Finally, Citigroup raised their price target on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. One 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 given a strong buy rating to the company. According to MarketBeat.com, Medtronic has an average rating of “Hold” and an average target price of $95.36.

Medtronic Trading Up 0.5 %

Shares of NYSE MDT opened at $90.09 on Thursday. Medtronic plc has a 1 year low of $69.32 and a 1 year high of $92.68. The firm has a 50-day moving average of $89.69 and a 200 day moving average of $84.38. The stock has a market cap of $115.54 billion, a P/E ratio of 30.44, a price-to-earnings-growth ratio of 2.55 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. Medtronic’s dividend payout ratio (DPR) is 94.59%.

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.