Thurston Springer Miller Herd & Titak Inc. Boosts Stock Position in Medtronic plc (NYSE:MDT)

Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Medtronic plc (NYSE:MDT) by 18.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,179 shares of the medical technology company’s stock after purchasing an additional 1,903 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Medtronic were worth $1,096,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of MDT. Scarborough Advisors LLC purchased a new stake in shares of Medtronic during the 4th quarter valued at about $62,000. Syon Capital LLC bought a new position in shares of Medtronic during the 4th quarter valued at approximately $562,000. Northwest Bank & Trust Co bought a new stake in Medtronic in the fourth quarter worth $103,000. Fortis Group Advisors LLC increased its position in Medtronic by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock valued at $38,000 after acquiring an additional 230 shares during the last quarter. Finally, Greenwood Capital Associates LLC raised its stake in shares of Medtronic by 4.8% in the fourth quarter. Greenwood Capital Associates LLC now owns 17,446 shares of the medical technology company’s stock valued at $1,437,000 after acquiring an additional 800 shares during the period. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Barclays increased their price target on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Stifel Nicolaus raised their price target on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Wells Fargo & Company upped their price objective on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Citigroup lifted their target price on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. 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 MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and a consensus price target of $95.14.

Medtronic Price Performance

NYSE MDT opened at $89.36 on Monday. The firm’s 50 day moving average price is $87.54 and its 200-day moving average price is $83.44. 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 company has a market cap of $114.58 billion, a PE ratio of 32.49, 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 issued its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. 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 prior year, the business posted $1.20 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts forecast that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio is currently 101.82%.

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.