Legacy Capital Wealth Partners LLC Grows Stock Holdings in Medtronic plc (NYSE:MDT)

Legacy Capital Wealth Partners LLC grew its holdings in Medtronic plc (NYSE:MDT) by 1.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,978 shares of the medical technology company’s stock after acquiring an additional 189 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Medtronic were worth $1,168,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MDT. Fortitude Family Office LLC bought a new stake in Medtronic in the third quarter worth $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic during the 3rd quarter worth about $27,000. Lynx Investment Advisory bought a new position in Medtronic during the 2nd quarter valued at about $28,000. Gleason Group Inc. purchased a new stake in Medtronic in the 2nd quarter worth about $42,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Medtronic in the 2nd quarter worth about $43,000. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MDT. Robert W. Baird upped their target price on Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Citigroup raised their price target on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. Wells Fargo & Company raised their target price on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Barclays boosted their price target on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $95.36.

Medtronic Trading Down 0.5 %

MDT opened at $87.72 on Friday. Medtronic plc has a 12 month low of $69.32 and a 12 month high of $92.68. The stock has a fifty day moving average price of $89.68 and a 200-day moving average price of $84.46. The firm has a market cap of $112.50 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 2.58 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.61 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 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $7.90 billion. During the same quarter in the previous year, the business posted $1.20 EPS. Medtronic’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.19%. The ex-dividend date was Friday, September 27th. Medtronic’s dividend payout ratio is currently 94.59%.

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.