Medtronic plc (NYSE:MDT) Shares Acquired by Hollencrest Capital Management

Hollencrest Capital Management boosted its position in Medtronic plc (NYSE:MDT) by 43.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 737 shares of the medical technology company’s stock after buying an additional 225 shares during the quarter. Hollencrest Capital Management’s holdings in Medtronic were worth $66,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on MDT shares. Daiwa America raised Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Robert W. Baird increased their target price on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Citigroup raised their target price on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Stifel Nicolaus increased their price objective on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Company boosted their target price on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $95.36.

Medtronic Trading Down 0.5 %

Shares of MDT stock opened at $87.72 on Friday. The stock has a 50-day simple moving average of $89.68 and a 200 day simple moving average of $84.46. The stock has a market capitalization of $112.50 billion, a P/E ratio of 29.64, a P/E/G ratio of 2.58 and a beta of 0.84. Medtronic plc has a fifty-two week low of $69.32 and a fifty-two week high of $92.68. 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 announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $7.90 billion. During the same quarter in the previous year, the company posted $1.20 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. On average, sell-side analysts expect that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio is presently 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.