Medtronic plc (NYSE:MDT) Shares Bought by Stephens Inc. AR

Stephens Inc. AR raised its stake in Medtronic plc (NYSE:MDT) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 197,149 shares of the medical technology company’s stock after acquiring an additional 1,947 shares during the quarter. Stephens Inc. AR’s holdings in Medtronic were worth $17,749,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the third quarter worth $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic in the third quarter worth $27,000. Lynx Investment Advisory acquired a new position in shares of Medtronic in the second quarter worth $28,000. Gleason Group Inc. acquired a new position in Medtronic in the second quarter valued at $42,000. Finally, Opal Wealth Advisors LLC acquired a new position in Medtronic in the second quarter valued at $43,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Down 1.4 %

Shares of NYSE:MDT opened at $89.25 on Friday. 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 52-week low of $69.32 and a 52-week high of $92.68. The company has a 50 day moving average of $89.61 and a two-hundred day moving average of $84.06. The company has a market capitalization of $114.45 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 2.59 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 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 company had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. During the same quarter last year, the company earned $1.20 earnings per share. Medtronic’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, analysts forecast that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s payout ratio is currently 94.59%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Evercore ISI upped their target price on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Truist Financial upped their target price on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Citigroup upped their target price on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Finally, Stifel Nicolaus boosted their target price on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. One equities 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 issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price 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.