Arlington Partners LLC Has $4.43 Million Position in Medtronic plc (NYSE:MDT)

Arlington Partners LLC raised its holdings in Medtronic plc (NYSE:MDT) by 24.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,191 shares of the medical technology company’s stock after acquiring an additional 9,643 shares during the quarter. Medtronic comprises approximately 1.7% of Arlington Partners LLC’s holdings, making the stock its 15th largest position. Arlington Partners LLC’s holdings in Medtronic were worth $4,429,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MDT. Wedmont Private Capital raised its stake in shares of Medtronic by 4.6% in the 1st quarter. Wedmont Private Capital now owns 3,798 shares of the medical technology company’s stock valued at $318,000 after acquiring an additional 166 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Medtronic by 14.8% in the first quarter. International Assets Investment Management LLC now owns 14,478 shares of the medical technology company’s stock worth $1,260,000 after buying an additional 1,871 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of Medtronic by 25.5% during the 1st quarter. Ballentine Partners LLC now owns 13,769 shares of the medical technology company’s stock worth $1,200,000 after buying an additional 2,799 shares during the period. CHICAGO TRUST Co NA grew its stake in Medtronic by 12.6% in the 1st quarter. CHICAGO TRUST Co NA now owns 10,087 shares of the medical technology company’s stock valued at $879,000 after buying an additional 1,126 shares during the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC raised its holdings in Medtronic by 3.1% in the 1st quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 113,779 shares of the medical technology company’s stock worth $9,349,000 after acquiring an additional 3,472 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

Shares of NYSE:MDT traded down $1.07 during midday trading on Monday, reaching $91.17. The company’s stock had a trading volume of 1,141,790 shares, compared to its average volume of 6,230,681. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.25. The company has a market capitalization of $116.90 billion, a P/E ratio of 33.54, a P/E/G ratio of 2.53 and a beta of 0.84. 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 simple moving average is $88.45 and its 200-day simple moving average is $83.58.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping the consensus estimate 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 previous year, the business posted $1.20 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts expect that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Friday, September 27th. Medtronic’s dividend payout ratio is presently 101.82%.

Analyst Ratings Changes

Several brokerages have recently issued reports on MDT. Robert W. Baird raised their price target on Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Tuesday, August 20th. Truist Financial increased their price objective on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Evercore ISI boosted their target price on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company upped their target price on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. One investment 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. Based on data from MarketBeat.com, the company presently has an average 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.