2,591 Shares in Medtronic plc (NYSE:MDT) Acquired by Means Investment CO. Inc.

Means Investment CO. Inc. acquired a new stake in Medtronic plc (NYSE:MDT) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,591 shares of the medical technology company’s stock, valued at approximately $233,000.

Several other institutional investors and hedge funds have also bought and sold shares of MDT. Lynx Investment Advisory bought a new position in shares of Medtronic during the 2nd quarter worth $28,000. Tributary Capital Management LLC bought a new position in Medtronic during the first quarter worth about $33,000. Riverview Trust Co purchased a new position in shares of Medtronic in the first quarter worth about $39,000. Gleason Group Inc. purchased a new position in shares of Medtronic in the second quarter worth about $42,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Medtronic in the second quarter valued at approximately $43,000. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

MDT stock opened at $92.24 on Friday. The firm has a 50 day simple moving average of $88.45 and a two-hundred day simple moving average of $83.59. The stock has a market cap of $118.28 billion, a PE ratio of 33.54, a P/E/G ratio of 2.53 and a beta of 0.84. Medtronic plc has a one year low of $68.84 and a one year high of $92.25. 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 announced 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. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The company had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. During the same period in the previous year, the business earned $1.20 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, analysts predict 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. Investors of record on Friday, September 27th were given a $0.70 dividend. 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 3.04%. Medtronic’s payout ratio is 101.82%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MDT. Barclays raised their price objective on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Citigroup lifted 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 note on Tuesday, August 20th. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Finally, Robert W. Baird upped 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. One investment analyst has rated the stock with a sell rating, eight have assigned 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 presently has an average rating of “Hold” and a consensus price target 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.