1,962 Shares in Medtronic plc (NYSE:MDT) Bought by Strategic Investment Solutions Inc. IL

Strategic Investment Solutions Inc. IL bought a new stake in Medtronic plc (NYSE:MDT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,962 shares of the medical technology company’s stock, valued at approximately $159,000.

Other hedge funds have also recently added to or reduced their stakes in the company. LifeSteps Financial Inc. bought a new stake in shares of Medtronic in the 1st quarter valued at about $27,000. Lynx Investment Advisory bought a new stake in Medtronic in the second quarter valued at approximately $28,000. Tributary Capital Management LLC acquired a new stake in Medtronic during the 1st quarter worth $33,000. Fortis Group Advisors LLC lifted its holdings in Medtronic by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock worth $38,000 after acquiring an additional 230 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in Medtronic in the first quarter valued at about $39,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Down 0.0 %

Medtronic stock opened at $89.99 on Wednesday. The company has a market cap of $115.39 billion, a price-to-earnings ratio of 32.72, a P/E/G ratio of 2.56 and a beta of 0.84. The firm has a 50-day moving average of $86.21 and a 200-day moving average of $83.19. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. Medtronic plc has a one year low of $68.84 and a one year high of $91.49.

Medtronic (NYSE:MDT) last released its earnings results 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. The business had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. Medtronic’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 earnings per share. On average, equities analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company 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 $0.70 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. Medtronic’s dividend payout ratio is presently 101.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MDT shares. Wells Fargo & Company raised their price target on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Piper Sandler raised their target price on shares of Medtronic from $85.00 to $90.00 and gave the stock 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 lifted their price target for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Truist Financial increased their price objective on shares of Medtronic from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Finally, Stifel Nicolaus raised their price objective on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.