Medtronic plc (NYSE:MDT) Shares Bought by Demars Financial Group LLC

Demars Financial Group LLC raised its holdings in Medtronic plc (NYSE:MDT) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,583 shares of the medical technology company’s stock after purchasing an additional 164 shares during the quarter. Medtronic comprises approximately 0.4% of Demars Financial Group LLC’s portfolio, making the stock its 21st largest holding. Demars Financial Group LLC’s holdings in Medtronic were worth $863,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MDT. Manning & Napier Advisors LLC purchased a new stake in Medtronic during the second quarter worth about $25,643,000. Olstein Capital Management L.P. boosted its holdings in Medtronic by 19.2% during the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock worth $7,833,000 after buying an additional 14,000 shares in the last quarter. SageView Advisory Group LLC lifted its holdings in shares of Medtronic by 130.3% in the first quarter. SageView Advisory Group LLC now owns 16,829 shares of the medical technology company’s stock valued at $1,467,000 after purchasing an additional 9,523 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Medtronic by 174.9% in the first quarter. Empowered Funds LLC now owns 74,903 shares of the medical technology company’s stock valued at $6,528,000 after purchasing an additional 47,657 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of Medtronic by 13.6% in the first quarter. National Bank of Canada FI now owns 261,325 shares of the medical technology company’s stock valued at $21,642,000 after purchasing an additional 31,195 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Daiwa America raised shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Friday, October 25th. Piper Sandler upped their price target on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Wells Fargo & Company upped their price target on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Oppenheimer upped their price target on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $95.36.

Medtronic Trading Down 0.5 %

MDT stock traded down $0.40 on Friday, hitting $87.72. 8,137,674 shares of the company were exchanged, compared to its average volume of 4,969,610. Medtronic plc has a twelve month low of $69.32 and a twelve month high of $92.68. 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 business’s fifty day moving average is $89.68 and its two-hundred day moving average is $84.46. The stock has a market capitalization of $112.50 billion, a price-to-earnings ratio of 29.64, a price-to-earnings-growth ratio of 2.58 and a beta of 0.84.

Medtronic (NYSE:MDT) last issued its quarterly 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. 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 analyst estimates of $7.90 billion. During the same quarter in the prior year, the business 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 forecast that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Friday, September 27th. Medtronic’s payout ratio is currently 94.59%.

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.