Trinity Legacy Partners LLC Purchases 4,181 Shares of Medtronic plc (NYSE:MDT)

Trinity Legacy Partners LLC increased its holdings in Medtronic plc (NYSE:MDT) by 8.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,892 shares of the medical technology company’s stock after purchasing an additional 4,181 shares during the period. Trinity Legacy Partners LLC’s holdings in Medtronic were worth $5,031,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Fortitude Family Office LLC purchased a new stake in shares of Medtronic during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC purchased a new stake in Medtronic during the third quarter valued at approximately $27,000. Lynx Investment Advisory bought a new stake in shares of Medtronic in the 2nd quarter valued at approximately $28,000. Gleason Group Inc. purchased a new position in shares of Medtronic in the 2nd quarter worth approximately $42,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Medtronic during the 2nd quarter valued at $43,000. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on MDT shares. Barclays lifted their price objective on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Robert W. Baird upped their price target on shares of Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Truist Financial raised their price objective on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Stifel Nicolaus upped their target price on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company raised their price target on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $95.36.

Medtronic Stock Down 2.2 %

NYSE:MDT opened at $88.12 on Friday. 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 firm has a market cap of $113.01 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 2.55 and a beta of 0.84. The company has a 50-day moving average of $89.69 and a 200 day moving average of $84.38. Medtronic plc has a 1-year low of $69.32 and a 1-year high of $92.68.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS 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 company had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. Medtronic’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, research analysts anticipate that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s payout ratio is currently 94.59%.

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.