Trajan Wealth LLC Purchases 3,938 Shares of Medtronic plc (NYSE:MDT)

Trajan Wealth LLC boosted its position in Medtronic plc (NYSE:MDT) by 7.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,189 shares of the medical technology company’s stock after purchasing an additional 3,938 shares during the quarter. Trajan Wealth LLC’s holdings in Medtronic were worth $4,969,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MDT. Capital Research Global Investors increased its holdings in shares of Medtronic by 7.1% during the first quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after acquiring an additional 2,044,109 shares in the last quarter. Pzena Investment Management LLC increased its holdings in shares of Medtronic by 8.3% during the second quarter. Pzena Investment Management LLC now owns 8,307,123 shares of the medical technology company’s stock valued at $653,854,000 after acquiring an additional 637,931 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Medtronic by 7.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock valued at $560,494,000 after acquiring an additional 515,751 shares in the last quarter. Longview Partners Guernsey LTD increased its holdings in shares of Medtronic by 2.3% during the first quarter. Longview Partners Guernsey LTD now owns 6,635,054 shares of the medical technology company’s stock valued at $578,245,000 after acquiring an additional 147,737 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Medtronic by 2.3% during the third quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock valued at $575,460,000 after acquiring an additional 145,504 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MDT has been the topic of several research reports. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Barclays increased 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. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Friday, October 25th. Finally, Wells Fargo & Company increased their price target on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Hold” and a consensus target price of $95.36.

Medtronic Trading Down 0.3 %

Shares of NYSE:MDT opened at $90.33 on Wednesday. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $92.68. The firm has a market capitalization of $115.82 billion, a price-to-earnings ratio of 32.85, a price-to-earnings-growth ratio of 2.60 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 50 day moving average price is $89.52 and its 200-day moving average price is $83.98.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $7.90 billion. During the same quarter last year, the firm posted $1.20 EPS. The business’s revenue was up 3.4% on a year-over-year basis. On average, equities research analysts forecast that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.10%. Medtronic’s dividend payout ratio (DPR) is 101.82%.

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.