XML Financial LLC Purchases 1,351 Shares of Medtronic plc (NYSE:MDT)

XML Financial LLC increased its position in Medtronic plc (NYSE:MDT) by 12.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,536 shares of the medical technology company’s stock after buying an additional 1,351 shares during the quarter. XML Financial LLC’s holdings in Medtronic were worth $1,129,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in shares of Medtronic during the third quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in Medtronic in the 3rd quarter worth $27,000. Lynx Investment Advisory purchased a new stake in Medtronic in the second quarter worth about $28,000. Gleason Group Inc. purchased a new position in shares of Medtronic during the second quarter valued at approximately $42,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Medtronic in the 2nd quarter worth approximately $43,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 0.5 %

MDT opened at $87.72 on Monday. Medtronic plc has a 1-year low of $69.32 and a 1-year high of $92.68. The firm’s 50 day simple moving average is $89.68 and its two-hundred day simple moving average is $84.48. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $112.50 billion, a PE ratio of 29.64, a PEG ratio of 2.51 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company had revenue of $7.97 billion for 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. Medtronic’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts forecast that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a $0.70 dividend. 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 94.59%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MDT. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Stifel Nicolaus increased their price target on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Oppenheimer boosted their price objective on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company upped their price target on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have issued 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.com, Medtronic currently has an average rating of “Hold” and a consensus target price of $95.36.

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.