San Luis Wealth Advisors LLC Buys 4,146 Shares of Medtronic plc (NYSE:MDT)

San Luis Wealth Advisors LLC increased its stake in shares of Medtronic plc (NYSE:MDT) by 126.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,416 shares of the medical technology company’s stock after acquiring an additional 4,146 shares during the quarter. San Luis Wealth Advisors LLC’s holdings in Medtronic were worth $668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Chemung Canal Trust Co. increased its stake in shares of Medtronic by 1,467.5% in the first quarter. Chemung Canal Trust Co. now owns 47,902 shares of the medical technology company’s stock worth $4,175,000 after buying an additional 44,846 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of Medtronic in the second quarter valued at about $25,643,000. SageView Advisory Group LLC raised its stake in shares of Medtronic by 130.3% during the first quarter. SageView Advisory Group LLC now owns 16,829 shares of the medical technology company’s stock valued at $1,467,000 after acquiring an additional 9,523 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Medtronic by 10.0% during the first quarter. Daiwa Securities Group Inc. now owns 135,268 shares of the medical technology company’s stock worth $11,789,000 after purchasing an additional 12,250 shares during the period. Finally, Burns J W & Co. Inc. NY grew its stake in shares of Medtronic by 17.4% in the first quarter. Burns J W & Co. Inc. NY now owns 3,276 shares of the medical technology company’s stock worth $286,000 after purchasing an additional 486 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Price Performance

Shares of NYSE:MDT opened at $88.85 on Friday. The business has a fifty day moving average price of $87.39 and a 200-day moving average price of $83.42. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. The company has a market capitalization of $113.95 billion, a PE ratio of 30.02, a PEG ratio of 2.53 and a beta of 0.84. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $91.49.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. During the same period last year, the business earned $1.20 EPS. Medtronic’s revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts expect that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.15%. Medtronic’s dividend payout ratio is 94.59%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MDT shares. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Evercore ISI raised their price target on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Tuesday, August 20th. Wells Fargo & Company raised their target price on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Barclays boosted their price target on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Medtronic has an average rating of “Hold” and an average price target of $95.14.

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.