MADDEN SECURITIES Corp Makes New $219,000 Investment in Medtronic plc (NYSE:MDT)

MADDEN SECURITIES Corp acquired a new stake in shares of Medtronic plc (NYSE:MDT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,435 shares of the medical technology company’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MDT. First PREMIER Bank grew its position in Medtronic by 1.8% in the 3rd quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after purchasing an additional 116 shares during the period. Quent Capital LLC increased its position in shares of Medtronic by 8.0% during the first quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock worth $146,000 after acquiring an additional 125 shares in the last quarter. Abbrea Capital LLC raised its holdings in shares of Medtronic by 2.5% in the 1st quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock worth $446,000 after acquiring an additional 125 shares during the last quarter. Waterway Wealth Management LLC lifted its position in Medtronic by 4.8% in the 2nd quarter. Waterway Wealth Management LLC now owns 2,759 shares of the medical technology company’s stock valued at $217,000 after acquiring an additional 126 shares in the last quarter. Finally, Americana Partners LLC boosted its stake in Medtronic by 2.0% during the 2nd quarter. Americana Partners LLC now owns 6,667 shares of the medical technology company’s stock valued at $525,000 after purchasing an additional 128 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.6 %

NYSE:MDT opened at $89.35 on Friday. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $91.49. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average is $87.54 and its 200 day moving average is $83.46. The stock has a market capitalization of $114.57 billion, a PE ratio of 32.49, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84.

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. The firm had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. Sell-side analysts expect that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.13%. Medtronic’s dividend payout ratio is presently 101.82%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Citigroup increased their price objective on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Stifel Nicolaus increased their price target on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $98.00 to $105.00 in a report on Thursday. Robert W. Baird increased their target price on shares of Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Finally, Piper Sandler raised their price target on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.