Mount Yale Investment Advisors LLC Acquires 2,786 Shares of Medtronic plc (NYSE:MDT)

Mount Yale Investment Advisors LLC lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 38.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 10,013 shares of the medical technology company’s stock after purchasing an additional 2,786 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Medtronic were worth $788,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on MDT. Barclays boosted 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. Daiwa America raised Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. Wells Fargo & Company increased their target price on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, The Goldman Sachs Group assumed coverage on Medtronic in a report on Thursday, May 30th. They set a “sell” rating and a $83.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $92.92.

Medtronic Price Performance

Shares of NYSE MDT opened at $89.86 on Tuesday. The company has a fifty day moving average price of $85.03 and a 200 day moving average price of $82.99. The firm has a market cap of $115.22 billion, a PE ratio of 32.68, a PEG ratio of 2.57 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $91.49.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share 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 during the quarter, compared to the consensus estimate of $7.90 billion. During the same quarter in the prior year, the firm posted $1.20 EPS. The business’s revenue was up 3.4% on a year-over-year basis. Research analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.12%. Medtronic’s dividend payout ratio (DPR) is presently 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.