Meadow Creek Wealth Advisors LLC Acquires 318 Shares of Medtronic plc (NYSE:MDT)

Meadow Creek Wealth Advisors LLC increased its holdings in shares of Medtronic plc (NYSE:MDT) by 5.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,677 shares of the medical technology company’s stock after purchasing an additional 318 shares during the period. Meadow Creek Wealth Advisors LLC’s holdings in Medtronic were worth $511,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Chemung Canal Trust Co. boosted its stake in Medtronic by 1,467.5% in the first quarter. Chemung Canal Trust Co. now owns 47,902 shares of the medical technology company’s stock valued at $4,175,000 after acquiring an additional 44,846 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Medtronic in the second quarter worth $25,643,000. SageView Advisory Group LLC raised 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 worth $1,467,000 after buying an additional 9,523 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Medtronic by 10.0% in the first quarter. Daiwa Securities Group Inc. now owns 135,268 shares of the medical technology company’s stock worth $11,789,000 after buying an additional 12,250 shares during the last quarter. Finally, Burns J W & Co. Inc. NY raised its holdings in shares of Medtronic by 17.4% in the first quarter. Burns J W & Co. Inc. NY now owns 3,276 shares of the medical technology company’s stock worth $286,000 after buying an additional 486 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on MDT shares. Barclays raised their price target on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Citigroup raised their price target on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Oppenheimer raised their price target on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and raised their price target for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Finally, Stifel Nicolaus raised their target price on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $95.36.

Medtronic Stock Down 0.2 %

MDT stock opened at $90.90 on Wednesday. The firm has a market cap of $116.56 billion, a PE ratio of 33.13, 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 quick ratio of 1.61 and a current ratio of 2.13. The firm’s fifty day moving average is $88.83 and its 200 day moving average is $83.67. Medtronic plc has a one year low of $68.84 and a one year high of $92.25.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. The company had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $1.20 earnings per share. On average, research analysts forecast that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.70 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.08%. Medtronic’s dividend payout ratio (DPR) is 101.82%.

About Medtronic

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.