Medtronic plc (NYSE:MDT) Shares Bought by Visionary Horizons LLC

Visionary Horizons LLC lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 7.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,468 shares of the medical technology company’s stock after acquiring an additional 1,101 shares during the quarter. Medtronic comprises approximately 1.0% of Visionary Horizons LLC’s holdings, making the stock its 15th biggest holding. Visionary Horizons LLC’s holdings in Medtronic were worth $1,483,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new stake in Medtronic in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new stake in Medtronic during the 3rd quarter valued at $27,000. Lynx Investment Advisory purchased a new stake in Medtronic during the 2nd quarter worth $28,000. Gleason Group Inc. acquired a new position in Medtronic in the 2nd quarter worth $42,000. Finally, Opal Wealth Advisors LLC acquired a new position in Medtronic in the 2nd quarter worth $43,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MDT. Piper Sandler lifted their target price on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Stifel Nicolaus lifted their price objective on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Evercore ISI increased their target price on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Robert W. Baird lifted their price target on shares of Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Finally, Barclays upped their price target on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Medtronic presently has an average rating of “Hold” and an average target price of $95.36.

Medtronic Stock Up 0.9 %

Shares of Medtronic stock opened at $90.07 on Friday. Medtronic plc has a twelve month low of $69.32 and a twelve month high of $92.68. The stock has a market capitalization of $115.51 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 2.59 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 business’s 50 day simple moving average is $89.64 and its 200-day simple moving average is $84.13.

Medtronic (NYSE:MDT) last posted 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 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 period last year, the business posted $1.20 earnings per share. Equities research analysts forecast that Medtronic plc will post 5.44 earnings per share for the current 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 given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is 94.59%.

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.