Medtronic plc (NYSE:MDT) Shares Bought by Allied Investment Advisors LLC

Allied Investment Advisors LLC grew its holdings in Medtronic plc (NYSE:MDT) by 2.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,862 shares of the medical technology company’s stock after buying an additional 3,020 shares during the period. Allied Investment Advisors LLC’s holdings in Medtronic were worth $9,621,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. J. W. Coons Advisors LLC purchased a new stake in shares of Medtronic in the fourth quarter valued at approximately $210,000. Azimuth Capital Investment Management LLC increased its stake in shares of Medtronic by 46.9% in the 4th quarter. Azimuth Capital Investment Management LLC now owns 78,836 shares of the medical technology company’s stock worth $6,495,000 after acquiring an additional 25,159 shares during the last quarter. CenterBook Partners LP raised its holdings in shares of Medtronic by 71.0% during the 4th quarter. CenterBook Partners LP now owns 31,076 shares of the medical technology company’s stock worth $2,560,000 after acquiring an additional 12,903 shares during the period. Schroder Investment Management Group boosted its position in shares of Medtronic by 12.6% during the 4th quarter. Schroder Investment Management Group now owns 1,807,228 shares of the medical technology company’s stock valued at $148,879,000 after acquiring an additional 202,832 shares during the last quarter. Finally, Waterloo Capital L.P. acquired a new stake in Medtronic during the fourth quarter worth about $546,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Citigroup increased their price objective on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday. Barclays raised their target price on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Oppenheimer increased their price target on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and an average target price of $94.21.

Medtronic Stock Up 0.6 %

Medtronic stock traded up $0.49 during trading on Friday, reaching $88.26. The stock had a trading volume of 3,598,594 shares, compared to its average volume of 6,355,535. 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 plc has a 52-week low of $68.84 and a 52-week high of $91.49. The stock has a market cap of $113.17 billion, a PE ratio of 32.09, a P/E/G ratio of 2.56 and a beta of 0.84. The business has a 50 day moving average price of $86.77 and a 200 day moving average price of $83.30.

Medtronic (NYSE:MDT) last issued its 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 the consensus estimate of $7.90 billion. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The company’s revenue was up 3.4% compared to the same quarter last year. On average, analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm 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. This represents a $2.80 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Friday, September 27th. Medtronic’s payout ratio is 101.82%.

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.