Silicon Valley Capital Partners Has $9.72 Million Holdings in Medtronic plc (NYSE:MDT)

Silicon Valley Capital Partners grew its position in shares of Medtronic plc (NYSE:MDT) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,010 shares of the medical technology company’s stock after buying an additional 653 shares during the quarter. Medtronic makes up about 1.3% of Silicon Valley Capital Partners’ investment portfolio, making the stock its 20th biggest position. Silicon Valley Capital Partners’ holdings in Medtronic were worth $9,724,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of MDT. Manning & Napier Advisors LLC bought a new stake in Medtronic in the 2nd quarter valued at about $25,643,000. SageView Advisory Group LLC boosted its stake in Medtronic by 130.3% during the first quarter. SageView Advisory Group LLC now owns 16,829 shares of the medical technology company’s stock worth $1,467,000 after acquiring an additional 9,523 shares in the last quarter. Empowered Funds LLC increased its stake in Medtronic by 174.9% during the 1st 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. National Bank of Canada FI boosted its position in shares of Medtronic by 13.6% during 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 buying an additional 31,195 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Medtronic by 6.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 368,682 shares of the medical technology company’s stock worth $29,019,000 after acquiring an additional 21,995 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Evercore ISI boosted their price objective on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Citigroup lifted their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Finally, Barclays upped their price target on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic presently has an average rating of “Hold” and a consensus target price of $95.36.

Medtronic Stock Up 0.1 %

Shares of MDT opened at $90.20 on Monday. The company’s 50-day simple moving average is $89.64 and its 200-day simple moving average is $84.20. The stock has a market capitalization of $115.68 billion, a PE ratio of 30.54, a P/E/G ratio of 2.55 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. Medtronic plc has a 1 year low of $69.32 and a 1 year high of $92.68.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $7.90 billion. During the same quarter last year, the business posted $1.20 EPS. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. 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. Shareholders of record on Friday, September 27th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.10%. Medtronic’s dividend payout ratio (DPR) is currently 94.59%.

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.