Capstone Triton Financial Group LLC Increases Position in Medtronic plc (NYSE:MDT)

Capstone Triton Financial Group LLC increased its position in Medtronic plc (NYSE:MDT) by 5.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,948 shares of the medical technology company’s stock after buying an additional 549 shares during the period. Capstone Triton Financial Group LLC’s holdings in Medtronic were worth $783,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Boyar Asset Management Inc. boosted its stake in shares of Medtronic by 2.6% in the fourth quarter. Boyar Asset Management Inc. now owns 4,655 shares of the medical technology company’s stock worth $383,000 after acquiring an additional 120 shares during the period. Quent Capital LLC lifted its holdings in Medtronic by 8.0% in the 1st quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock worth $146,000 after purchasing an additional 125 shares in the last quarter. Abbrea Capital LLC boosted its stake in Medtronic by 2.5% in the 1st quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock worth $446,000 after purchasing an additional 125 shares during the period. Waterway Wealth Management LLC grew its holdings in Medtronic by 4.8% during the 2nd quarter. Waterway Wealth Management LLC now owns 2,759 shares of the medical technology company’s stock valued at $217,000 after buying an additional 126 shares in the last quarter. Finally, Angeles Investment Advisors LLC raised its position in shares of Medtronic by 1.0% during the fourth quarter. Angeles Investment Advisors LLC now owns 12,627 shares of the medical technology company’s stock valued at $1,046,000 after buying an additional 128 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Down 0.1 %

MDT stock opened at $89.35 on Friday. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.49. The stock has a market capitalization of $114.57 billion, a price-to-earnings ratio of 32.49, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The firm’s fifty day simple moving average is $84.77 and its two-hundred day simple moving average is $82.99.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping 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 analysts’ expectations of $7.90 billion. During the same period in the previous year, the company earned $1.20 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.13%. Medtronic’s payout ratio is 101.82%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MDT shares. Barclays raised their target price on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Stifel Nicolaus lifted their target price on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. The Goldman Sachs Group assumed coverage on Medtronic in a report on Thursday, May 30th. They set a “sell” rating and a $83.00 price target for the company. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic has an average rating of “Hold” and a consensus target price of $92.92.

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.