Roberts Wealth Advisors LLC Buys 850 Shares of Medtronic plc (NYSE:MDT)

Roberts Wealth Advisors LLC boosted its stake in shares of Medtronic plc (NYSE:MDT) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,015 shares of the medical technology company’s stock after purchasing an additional 850 shares during the quarter. Medtronic comprises 1.4% of Roberts Wealth Advisors LLC’s holdings, making the stock its 24th largest holding. Roberts Wealth Advisors LLC’s holdings in Medtronic were worth $4,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. Lynx Investment Advisory bought a new stake in shares of Medtronic in the 2nd quarter valued at about $28,000. Tributary Capital Management LLC acquired a new stake in Medtronic in the first quarter valued at approximately $33,000. Riverview Trust Co purchased a new position in Medtronic in the first quarter worth $39,000. Gleason Group Inc. acquired a new position in shares of Medtronic during the second quarter worth $42,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Medtronic in the 2nd quarter worth $43,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Down 0.2 %

Shares of NYSE:MDT opened at $89.84 on Wednesday. The company has a market capitalization of $115.20 billion, a PE ratio of 32.67, a PEG ratio of 2.53 and a beta of 0.84. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $91.49. The business has a 50 day moving average of $87.92 and a two-hundred day moving average of $83.47. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55.

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

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a $0.70 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.12%. Medtronic’s payout ratio is 101.82%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Oppenheimer increased their price target on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. Evercore ISI increased their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Stifel Nicolaus boosted their target price on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Piper Sandler raised their price target on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Finally, Citigroup upped their target price on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $95.36.

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.