Leisure Capital Management Purchases 814 Shares of Medtronic plc (NYSE:MDT)

Leisure Capital Management grew its position in Medtronic plc (NYSE:MDT) by 6.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,800 shares of the medical technology company’s stock after purchasing an additional 814 shares during the quarter. Leisure Capital Management’s holdings in Medtronic were worth $1,152,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of MDT. Hummer Financial Advisory Services Inc acquired a new position in Medtronic during the third quarter worth $214,000. McKinley Carter Wealth Services Inc. grew its position in Medtronic by 7.4% during the third quarter. McKinley Carter Wealth Services Inc. now owns 19,548 shares of the medical technology company’s stock valued at $1,760,000 after buying an additional 1,348 shares during the period. Sumitomo Life Insurance Co. grew its position in Medtronic by 2.5% during the third quarter. Sumitomo Life Insurance Co. now owns 18,808 shares of the medical technology company’s stock valued at $1,693,000 after buying an additional 458 shares during the period. Nexus Investment Management ULC grew its position in Medtronic by 0.5% during the third quarter. Nexus Investment Management ULC now owns 217,424 shares of the medical technology company’s stock valued at $19,575,000 after buying an additional 1,050 shares during the period. Finally, Roberts Wealth Advisors LLC grew its position in Medtronic by 1.7% during the third quarter. Roberts Wealth Advisors LLC now owns 50,015 shares of the medical technology company’s stock valued at $4,408,000 after buying an additional 850 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Up 0.2 %

Shares of MDT traded up $0.17 during trading hours on Wednesday, hitting $90.01. The company had a trading volume of 715,594 shares, compared to its average volume of 6,239,402. The firm has a fifty day moving average price of $87.92 and a 200-day moving average price of $83.47. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The stock has a market capitalization of $115.42 billion, a price-to-earnings ratio of 32.67, a P/E/G ratio of 2.53 and a beta of 0.84. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $91.49.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (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 analyst estimates of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. Medtronic’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 EPS. On average, equities research analysts forecast that Medtronic plc will post 5.44 EPS for the current fiscal 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 given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is 101.82%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MDT shares. Piper Sandler increased their target price on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Barclays raised their target price on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Truist Financial raised their target price on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Monday. Robert W. Baird raised their target price on shares of Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. One 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 assigned a strong buy rating to the company. According to MarketBeat.com, Medtronic currently has an average rating of “Hold” and an average price target 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.