Exeter Financial LLC Has $887,000 Stock Position in Medtronic plc (NYSE:MDT)

Exeter Financial LLC boosted its holdings in shares of Medtronic plc (NYSE:MDT) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,857 shares of the medical technology company’s stock after buying an additional 186 shares during the quarter. Exeter Financial LLC’s holdings in Medtronic were worth $887,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of MDT. M&G Plc acquired a new position in Medtronic during the first quarter worth approximately $259,160,000. Capital Research Global Investors boosted its holdings in shares of Medtronic by 7.1% during the first quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock worth $2,691,577,000 after acquiring an additional 2,044,109 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Medtronic by 1,195.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock worth $144,637,000 after acquiring an additional 1,695,800 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Medtronic by 145.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,372,641 shares of the medical technology company’s stock worth $195,431,000 after acquiring an additional 1,405,978 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Medtronic by 26.8% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,237,032 shares of the medical technology company’s stock worth $513,807,000 after acquiring an additional 1,318,590 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE MDT opened at $87.04 on Tuesday. The company has a market capitalization of $111.61 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 2.56 and a beta of 0.84. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.49. The stock has a fifty day simple moving average of $86.77 and a 200 day simple moving average of $83.28. 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 (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The business had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. During the same period in the prior year, the business posted $1.20 earnings per share. Medtronic’s quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.22%. Medtronic’s payout ratio is currently 101.82%.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of research analyst reports. Truist Financial boosted their price objective on Medtronic from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Tuesday, August 20th. Wells Fargo & Company boosted their price target on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Barclays boosted their price target on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Daiwa America upgraded Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $94.21.

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.