Maia Wealth LLC Takes Position in Medtronic plc (NYSE:MDT)

Maia Wealth LLC acquired a new stake in Medtronic plc (NYSE:MDT) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,327 shares of the medical technology company’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MDT. Fortitude Family Office LLC bought a new stake in Medtronic in the third quarter valued at about $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Lynx Investment Advisory bought a new position in Medtronic during the 2nd quarter worth approximately $28,000. Gleason Group Inc. acquired a new position in Medtronic during the second quarter valued at approximately $42,000. Finally, Opal Wealth Advisors LLC bought a new stake in Medtronic in the second quarter valued at approximately $43,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of several research analyst reports. Barclays boosted 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. Piper Sandler raised their price target on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Citigroup raised their target price on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Finally, Robert W. Baird upped their price target on shares of Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a 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’s stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $95.36.

Medtronic Stock Up 0.5 %

MDT stock opened at $90.09 on Thursday. The company has a market cap of $115.54 billion, a price-to-earnings ratio of 30.44, a P/E/G ratio of 2.55 and a beta of 0.84. Medtronic plc has a twelve month low of $69.32 and a twelve month high of $92.68. The business has a 50 day moving average price of $89.69 and a two-hundred day moving average price of $84.38. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating 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 firm’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $1.20 earnings per share. Analysts anticipate that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued 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 payout ratio is currently 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.