STAR Financial Bank Purchases 398 Shares of Medtronic plc (NYSE:MDT)

STAR Financial Bank increased its position in Medtronic plc (NYSE:MDT) by 13.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,436 shares of the medical technology company’s stock after acquiring an additional 398 shares during the period. STAR Financial Bank’s holdings in Medtronic were worth $270,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its holdings in Medtronic by 2.5% in the fourth quarter. International Assets Investment Management LLC now owns 12,607 shares of the medical technology company’s stock worth $1,039,000 after purchasing an additional 302 shares during the last quarter. Gryphon Financial Partners LLC bought a new position in shares of Medtronic in the 4th quarter worth approximately $220,000. AGF Management Ltd. purchased a new position in shares of Medtronic in the fourth quarter worth approximately $822,000. Jump Financial LLC grew its position in Medtronic by 109.2% during the fourth quarter. Jump Financial LLC now owns 6,256 shares of the medical technology company’s stock valued at $515,000 after buying an additional 3,266 shares during the period. Finally, Avantax Advisory Services Inc. raised its position in Medtronic by 18.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 67,575 shares of the medical technology company’s stock worth $5,567,000 after acquiring an additional 10,301 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

Shares of Medtronic stock opened at $90.99 on Wednesday. The stock has a market cap of $116.69 billion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 2.56 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The stock has a 50 day moving average price of $82.83 and a 200-day moving average price of $82.65. Medtronic plc has a one year low of $68.84 and a one year high of $91.49.

Medtronic (NYSE:MDT) last released 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. The firm had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $1.20 EPS. Equities analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a $0.70 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.08%. Medtronic’s dividend payout ratio (DPR) is 101.82%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MDT. Stifel Nicolaus boosted their price objective on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Barclays increased their price objective on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Citigroup lowered their target price on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Tuesday, August 20th. Finally, Oppenheimer boosted their price objective on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.92.

Medtronic 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.