Wynn Capital LLC Buys 640 Shares of Medtronic plc (NYSE:MDT)

Wynn Capital LLC grew its position in shares of Medtronic plc (NYSE:MDT) by 19.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,921 shares of the medical technology company’s stock after acquiring an additional 640 shares during the quarter. Wynn Capital LLC’s holdings in Medtronic were worth $353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. MADDEN SECURITIES Corp purchased a new stake in Medtronic in the 3rd quarter valued at about $219,000. Juncture Wealth Strategies LLC lifted its holdings in Medtronic by 12.4% during the third quarter. Juncture Wealth Strategies LLC now owns 3,633 shares of the medical technology company’s stock worth $327,000 after acquiring an additional 400 shares during the period. Iowa State Bank bought a new stake in Medtronic during the third quarter worth $1,175,000. Nvest Financial LLC boosted its holdings in shares of Medtronic by 6.7% in the 3rd quarter. Nvest Financial LLC now owns 10,052 shares of the medical technology company’s stock worth $905,000 after buying an additional 633 shares during the last quarter. Finally, JGP Wealth Management LLC boosted its stake in Medtronic by 3.6% in the third quarter. JGP Wealth Management LLC now owns 82,201 shares of the medical technology company’s stock valued at $7,401,000 after acquiring an additional 2,819 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the topic of several research reports. Wells Fargo & Company boosted their price target on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Evercore ISI increased 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. Robert W. Baird lifted their price target on Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Piper Sandler boosted their price objective on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Finally, Truist Financial upped their price target on shares of Medtronic from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Medtronic presently has an average rating of “Hold” and a consensus target price of $95.14.

Medtronic Trading Up 0.6 %

Shares of NYSE MDT opened at $89.35 on Friday. The stock has a market cap of $114.57 billion, a P/E ratio of 32.49, a price-to-earnings-growth ratio of 2.53 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 plc has a 1 year low of $68.84 and a 1 year high of $91.49. The firm has a 50-day moving average of $87.54 and a 200 day moving average of $83.46.

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

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders 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 yield of 3.13%. Medtronic’s dividend payout ratio (DPR) is presently 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.