Medtronic plc (NYSE:MDT) Shares Acquired by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC increased its holdings in shares of Medtronic plc (NYSE:MDT) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,421 shares of the medical technology company’s stock after purchasing an additional 868 shares during the period. Medtronic makes up 1.1% of Pathway Financial Advisers LLC’s holdings, making the stock its 27th biggest position. Pathway Financial Advisers LLC’s holdings in Medtronic were worth $3,095,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in 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 buying an additional 120 shares during the last quarter. Quent Capital LLC grew its stake in shares of Medtronic by 8.0% during 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 during the period. Abbrea Capital LLC increased its holdings in shares of Medtronic by 2.5% during the 1st quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock valued at $446,000 after purchasing an additional 125 shares in the last quarter. Waterway Wealth Management LLC lifted its stake in shares of Medtronic by 4.8% in the 2nd quarter. Waterway Wealth Management LLC now owns 2,759 shares of the medical technology company’s stock valued at $217,000 after purchasing an additional 126 shares during the period. Finally, Angeles Investment Advisors LLC lifted its stake in shares of Medtronic by 1.0% in the 4th quarter. Angeles Investment Advisors LLC now owns 12,627 shares of the medical technology company’s stock valued at $1,046,000 after purchasing an additional 128 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Up 0.8 %

Shares of NYSE:MDT opened at $90.03 on Tuesday. The business has a 50-day moving average price of $86.00 and a 200 day moving average price of $83.15. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $91.49. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $115.44 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 2.56 and a beta of 0.84.

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

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.11%. Medtronic’s payout ratio is 101.82%.

Analyst Ratings Changes

A number of research analysts have weighed in on MDT shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a report on Wednesday, August 21st. Truist Financial boosted their target price on shares of Medtronic from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Stifel Nicolaus raised their price target on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Robert W. Baird raised their target price on Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Finally, Barclays boosted their price target on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $92.92.

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.