Capital Advisors Inc. OK Grows Position in Medtronic plc (NYSE:MDT)

Capital Advisors Inc. OK boosted its stake in Medtronic plc (NYSE:MDT) by 3.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 316,031 shares of the medical technology company’s stock after purchasing an additional 11,708 shares during the period. Capital Advisors Inc. OK’s holdings in Medtronic were worth $28,452,000 at the end of the most recent quarter.

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

Medtronic Stock Up 0.9 %

MDT opened at $90.07 on Friday. Medtronic plc has a 52 week low of $69.32 and a 52 week high of $92.68. The business has a 50 day moving average price of $89.64 and a two-hundred day moving average price of $84.13. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The company has a market cap of $115.51 billion, a PE ratio of 30.43, a P/E/G ratio of 2.59 and a beta of 0.84.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share 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 the consensus estimate of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the company earned $1.20 earnings per share. As a group, research analysts anticipate that Medtronic plc will post 5.44 EPS 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 issued a $0.70 dividend. 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 dividend payout ratio (DPR) is currently 94.59%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Barclays lifted their price objective on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Robert W. Baird increased their target price on Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Citigroup raised their price target on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Oppenheimer upped their price objective on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $98.00 to $105.00 in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Medtronic presently has an average rating of “Hold” and an average target price of $95.36.

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.