Medtronic plc (NYSE:MDT) Shares Bought by Autumn Glory Partners LLC

Autumn Glory Partners LLC increased its stake in Medtronic plc (NYSE:MDT) by 17.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,909 shares of the medical technology company’s stock after buying an additional 5,552 shares during the quarter. Medtronic comprises 1.3% of Autumn Glory Partners LLC’s portfolio, making the stock its 18th largest position. Autumn Glory Partners LLC’s holdings in Medtronic were worth $3,325,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. M&G Plc acquired a new position in shares of Medtronic in the first quarter worth about $259,160,000. Capital Research Global Investors raised its position in shares of Medtronic by 7.1% in the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after purchasing an additional 2,044,109 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Medtronic by 1,195.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock valued at $144,637,000 after buying an additional 1,695,800 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Medtronic by 8,908.6% during the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock worth $116,896,000 after buying an additional 1,284,002 shares in the last quarter. Finally, Troy Asset Management Ltd bought a new stake in shares of Medtronic in the second quarter worth $85,440,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Piper Sandler increased their price objective on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Wells Fargo & Company increased their price target 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. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Friday. Finally, Daiwa America upgraded Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and an average price target of $95.36.

Medtronic Stock Up 0.0 %

Medtronic stock opened at $90.60 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. Medtronic plc has a one year low of $68.84 and a one year high of $92.68. The company has a 50-day simple moving average of $89.42 and a 200-day simple moving average of $83.91. The firm has a market capitalization of $116.17 billion, a P/E ratio of 32.95, a P/E/G ratio of 2.60 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 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 analysts’ expectations of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. Medtronic’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 EPS. As a group, equities analysts expect that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s payout ratio is currently 101.82%.

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.