Tredje AP fonden Boosts Holdings in Medtronic plc (NYSE:MDT)

Tredje AP fonden increased its position in Medtronic plc (NYSE:MDT) by 3.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 321,282 shares of the medical technology company’s stock after purchasing an additional 10,000 shares during the quarter. Tredje AP fonden’s holdings in Medtronic were worth $25,288,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in MDT. Boyar Asset Management Inc. lifted its holdings in shares of Medtronic by 2.6% in the fourth quarter. Boyar Asset Management Inc. now owns 4,655 shares of the medical technology company’s stock valued at $383,000 after buying an additional 120 shares during the period. Quent Capital LLC boosted its position in shares of Medtronic by 8.0% during the 1st quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock valued at $146,000 after purchasing an additional 125 shares in the last quarter. Abbrea Capital LLC boosted its position in shares of Medtronic by 2.5% during the 1st quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock valued at $446,000 after purchasing an additional 125 shares in the last quarter. Waterway Wealth Management LLC grew its stake in shares of Medtronic by 4.8% in the 2nd quarter. Waterway Wealth Management LLC now owns 2,759 shares of the medical technology company’s stock worth $217,000 after purchasing an additional 126 shares during the last quarter. Finally, Angeles Investment Advisors LLC raised its holdings in shares of Medtronic by 1.0% in the 4th quarter. Angeles Investment Advisors LLC now owns 12,627 shares of the medical technology company’s stock worth $1,046,000 after purchasing an additional 128 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDT has been the topic of several recent research reports. Piper Sandler lifted their price target on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Wells Fargo & Company lifted their target price on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Citigroup reduced their target price on Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Robert W. Baird lifted their price target on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Finally, UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $92.92.

Medtronic Trading Down 1.6 %

NYSE MDT opened at $88.63 on Wednesday. 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 plc has a 1-year low of $68.84 and a 1-year high of $91.49. The firm’s fifty day simple moving average is $84.10 and its 200-day simple moving average is $82.87. The company has a market capitalization of $113.65 billion, a PE ratio of 32.23, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. The company 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%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 EPS. As a group, sell-side analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

Medtronic 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.