CarsonAllaria Wealth Management Ltd. Has $219,000 Stock Holdings in Medtronic plc (NYSE:MDT)

CarsonAllaria Wealth Management Ltd. grew its stake in Medtronic plc (NYSE:MDT) by 10.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,429 shares of the medical technology company’s stock after purchasing an additional 238 shares during the quarter. CarsonAllaria Wealth Management Ltd.’s holdings in Medtronic were worth $219,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Chemung Canal Trust Co. lifted its stake in shares of Medtronic by 1,467.5% in the 1st 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 during the period. Manning & Napier Advisors LLC acquired a new position in shares of Medtronic in the 2nd quarter valued at $25,643,000. SageView Advisory Group LLC lifted its stake in shares of Medtronic by 130.3% in the 1st 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 during the period. Daiwa Securities Group Inc. lifted its stake in shares of Medtronic by 10.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 135,268 shares of the medical technology company’s stock valued at $11,789,000 after purchasing an additional 12,250 shares during the period. Finally, Burns J W & Co. Inc. NY lifted its stake in shares of Medtronic by 17.4% in the 1st quarter. Burns J W & Co. Inc. NY now owns 3,276 shares of the medical technology company’s stock valued at $286,000 after purchasing an additional 486 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price objective on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Truist Financial raised their target price on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, October 14th. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and raised their target price for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Evercore ISI raised their target price on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $95.36.

Medtronic Price Performance

MDT traded down $1.08 during trading on Monday, hitting $91.16. 1,875,288 shares of the stock traded hands, compared to its average volume of 6,234,294. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $92.25. The company has a market cap of $116.89 billion, a price-to-earnings ratio of 33.54, a PEG ratio of 2.53 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. The business has a 50 day moving average price of $88.45 and a 200 day moving average price of $83.58.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating 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 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 previous year, the business earned $1.20 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. Equities research analysts forecast that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.07%. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

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.