Tudor Financial Inc. Acquires New Stake in Medtronic plc (NYSE:MDT)

Tudor Financial Inc. acquired a new stake in Medtronic plc (NYSE:MDT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,505 shares of the medical technology company’s stock, valued at approximately $586,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MDT. Clear Harbor Asset Management LLC lifted its stake in Medtronic by 1.2% in the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock worth $861,000 after purchasing an additional 111 shares during the last quarter. Guardian Wealth Management Inc. lifted its stake in Medtronic by 0.9% in the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock worth $1,182,000 after purchasing an additional 115 shares during the last quarter. First PREMIER Bank lifted its stake in Medtronic by 1.8% in the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock worth $577,000 after purchasing an additional 116 shares during the last quarter. First City Capital Management Inc. lifted its stake in Medtronic by 2.9% in the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after purchasing an additional 116 shares during the last quarter. Finally, Hardy Reed LLC lifted its stake in Medtronic by 4.4% in the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock worth $247,000 after purchasing an additional 116 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Stifel Nicolaus boosted 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. Wells Fargo & Company decreased their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Citigroup boosted their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Finally, UBS Group upgraded 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $95.27.

Medtronic Trading Down 0.8 %

Shares of NYSE MDT opened at $82.94 on Thursday. The firm’s 50 day moving average price is $87.87 and its 200-day moving average price is $85.00. The company has a market cap of $106.35 billion, a PE ratio of 25.36, a P/E/G ratio of 2.38 and a beta of 0.82. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 earnings per share. On average, equities research analysts expect that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.38%. Medtronic’s dividend payout ratio (DPR) is 85.63%.

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.