Vanguard Personalized Indexing Management LLC Buys 20,666 Shares of Medtronic plc (NYSE:MDT)

Vanguard Personalized Indexing Management LLC grew its stake in shares of Medtronic plc (NYSE:MDT) by 30.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,294 shares of the medical technology company’s stock after buying an additional 20,666 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Medtronic were worth $6,846,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. LifeSteps Financial Inc. purchased a new position in Medtronic during the first quarter valued at approximately $27,000. Lynx Investment Advisory bought a new stake in shares of Medtronic during the 2nd quarter valued at $28,000. Tributary Capital Management LLC purchased a new position in shares of Medtronic during the 1st quarter valued at $33,000. Fortis Group Advisors LLC boosted its holdings in Medtronic by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock worth $38,000 after buying an additional 230 shares during the period. Finally, Riverview Trust Co purchased a new stake in Medtronic in the 1st quarter worth $39,000. 82.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Oppenheimer boosted their price objective on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. Robert W. Baird boosted their price target on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a report on Wednesday, August 21st. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and an average price target of $92.92.

Medtronic Price Performance

MDT stock opened at $88.13 on Thursday. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $91.49. The firm has a market capitalization of $113.01 billion, a P/E ratio of 32.05, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a fifty day simple moving average of $84.32 and a two-hundred day simple moving average of $82.91. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The firm had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. During the same quarter last year, the firm earned $1.20 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. Analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Friday, September 27th. Medtronic’s dividend payout ratio is currently 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.