Mercer Global Advisors Inc. ADV increased its stake in Medtronic plc (NYSE:MDT – Free Report) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,556 shares of the medical technology company’s stock after purchasing an additional 561 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Medtronic were worth $10,433,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. LifeSteps Financial Inc. bought a new stake in shares of Medtronic during the 1st quarter worth $27,000. Lynx Investment Advisory purchased a new position in shares of Medtronic in the 2nd quarter worth about $28,000. Tributary Capital Management LLC bought a new position in shares of Medtronic during the 1st quarter valued at about $33,000. Fortis Group Advisors LLC raised its holdings in shares of Medtronic by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock valued at $38,000 after buying an additional 230 shares in the last quarter. Finally, Riverview Trust Co bought a new stake in Medtronic in the 1st quarter worth approximately $39,000. 82.06% of the stock is currently owned by institutional investors.
Medtronic Price Performance
Shares of MDT stock opened at $89.47 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.49. The firm has a market cap of $114.72 billion, a P/E ratio of 32.53, a P/E/G ratio of 2.57 and a beta of 0.84. The business’s 50 day moving average price is $84.55 and its 200-day moving average price is $82.96.
Medtronic Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders 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 yield of 3.13%. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the stock. Citigroup reduced their price target on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Tuesday, August 20th. Wells Fargo & Company upped their price target on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a report on Wednesday, August 21st. Finally, Truist Financial increased their target price on Medtronic from $85.00 to $90.00 and gave the company a “hold” rating in a report on Friday, August 23rd. 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 issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $92.92.
View Our Latest Analysis on MDT
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.
Recommended Stories
- Five stocks we like better than Medtronic
- The How and Why of Investing in Gold Stocks
- Edgewise Therapeutics Soars 50%: Key Reasons Behind the Surge
- When to Sell a Stock for Profit or Loss
- How the Fed’s Rate Cut Could Supercharge These 3 ETFs
- The 3 Best Fintech Stocks to Buy Now
- Microsoft Stock: 3 Reasons It’s Ready to Crush Q4
Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.