Medtronic plc (NYSE:MDT) Shares Acquired by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC lifted its holdings in Medtronic plc (NYSE:MDT) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,988 shares of the medical technology company’s stock after acquiring an additional 220 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Medtronic were worth $5,311,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Chemung Canal Trust Co. lifted its holdings in Medtronic by 1,467.5% during the first quarter. Chemung Canal Trust Co. now owns 47,902 shares of the medical technology company’s stock valued at $4,175,000 after purchasing an additional 44,846 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Medtronic in the second quarter valued at approximately $25,643,000. SageView Advisory Group LLC grew its holdings in shares of Medtronic by 130.3% in the first quarter. SageView Advisory Group LLC now owns 16,829 shares of the medical technology company’s stock valued at $1,467,000 after purchasing an additional 9,523 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Medtronic by 10.0% in the first quarter. Daiwa Securities Group Inc. now owns 135,268 shares of the medical technology company’s stock worth $11,789,000 after acquiring an additional 12,250 shares during the last quarter. Finally, Burns J W & Co. Inc. NY lifted its stake in Medtronic by 17.4% in the first quarter. Burns J W & Co. Inc. NY now owns 3,276 shares of the medical technology company’s stock worth $286,000 after acquiring an additional 486 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Down 1.4 %

Shares of NYSE:MDT opened at $87.04 on Tuesday. 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 company has a 50 day moving average of $86.77 and a two-hundred day moving average of $83.28. The company has a market capitalization of $111.61 billion, a price-to-earnings ratio of 31.65, a price-to-earnings-growth ratio of 2.56 and a beta of 0.84.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.22%. The ex-dividend date is Friday, September 27th. Medtronic’s payout ratio is currently 101.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Robert W. Baird lifted their target price on shares of Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and upped their price target for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Piper Sandler upped 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. Finally, Truist Financial upped their target price on shares of Medtronic from $85.00 to $90.00 and gave the company a “hold” rating in a report on Friday, August 23rd. One investment 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 MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus target price of $94.21.

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.