Pathway Financial Advisers LLC Purchases 1,216 Shares of Medtronic plc (NYSE:MDT)

Pathway Financial Advisers LLC increased its position in shares of Medtronic plc (NYSE:MDT) by 3.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,637 shares of the medical technology company’s stock after acquiring an additional 1,216 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Medtronic were worth $3,659,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sunbelt Securities Inc. grew its stake in Medtronic by 124.9% during the 1st quarter. Sunbelt Securities Inc. now owns 3,128 shares of the medical technology company’s stock worth $273,000 after buying an additional 1,737 shares during the last quarter. Wealthcare Advisory Partners LLC increased its holdings in shares of Medtronic by 21.4% during the first quarter. Wealthcare Advisory Partners LLC now owns 8,378 shares of the medical technology company’s stock valued at $730,000 after acquiring an additional 1,476 shares in the last quarter. Independence Bank of Kentucky raised its position in shares of Medtronic by 9.9% in the 1st quarter. Independence Bank of Kentucky now owns 1,668 shares of the medical technology company’s stock valued at $145,000 after purchasing an additional 150 shares during the last quarter. Burns J W & Co. Inc. NY boosted its stake in Medtronic by 17.4% in the 1st 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 in the last quarter. Finally, Chemung Canal Trust Co. boosted its stake in Medtronic by 1,467.5% in the 1st quarter. Chemung Canal Trust Co. now owns 47,902 shares of the medical technology company’s stock worth $4,175,000 after purchasing an additional 44,846 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Stifel Nicolaus raised their price target on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Daiwa America raised Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Wells Fargo & Company increased their price objective on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Robert W. Baird raised their price objective on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Finally, Evercore ISI upped their target price on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic presently has an average rating of “Hold” and an average price target of $95.36.

Medtronic Price Performance

Shares of NYSE:MDT traded down $0.40 during trading on Friday, reaching $90.59. 3,446,977 shares of the company’s stock traded hands, compared to its average volume of 6,215,464. 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 plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.68. The company has a 50-day simple moving average of $89.30 and a 200-day simple moving average of $83.84. The firm has a market cap of $116.18 billion, a PE ratio of 30.60, a P/E/G ratio of 2.60 and a beta of 0.84.

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

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.09%. 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.