Advisors Management Group Inc. ADV Buys 1,041 Shares of Medtronic plc (NYSE:MDT)

Advisors Management Group Inc. ADV lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 44,833 shares of the medical technology company’s stock after purchasing an additional 1,041 shares during the period. Advisors Management Group Inc. ADV’s holdings in Medtronic were worth $4,036,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of MDT. Clear Harbor Asset Management LLC boosted its position in shares of Medtronic by 1.2% in the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock worth $861,000 after purchasing an additional 111 shares during the period. First PREMIER Bank lifted its holdings in shares of Medtronic by 1.8% in the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock worth $577,000 after buying an additional 116 shares in the last quarter. Precision Wealth Strategies LLC boosted its position in shares of Medtronic by 3.3% during the third quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock worth $337,000 after acquiring an additional 118 shares during the last quarter. Lake Street Advisors Group LLC grew its stake in Medtronic by 2.0% during the third quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock valued at $547,000 after acquiring an additional 118 shares in the last quarter. Finally, Abbrea Capital LLC increased its holdings in Medtronic by 2.5% in the 1st quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock valued at $446,000 after acquiring an additional 125 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Oppenheimer increased their price objective on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a report on Wednesday, August 21st. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Friday, October 25th. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and lifted their price target for the company from $76.00 to $90.00 in a report on Thursday, August 15th. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Finally, Robert W. Baird upped their price objective on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $95.36.

Medtronic Trading Up 0.5 %

Shares of Medtronic stock opened at $90.09 on Thursday. The firm has a market capitalization of $115.54 billion, a PE ratio of 30.44, a P/E/G ratio of 2.55 and a beta of 0.84. The firm’s 50-day moving average price is $89.69 and its 200 day moving average price is $84.38. Medtronic plc has a twelve month low of $69.32 and a twelve month high of $92.68. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55.

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, beating the consensus estimate of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. During the same period in the prior year, the business earned $1.20 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. On average, sell-side 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. Shareholders of record on Friday, September 27th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is presently 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.