Semmax Financial Advisors Inc. Purchases 2,841 Shares of Medtronic plc (NYSE:MDT)

Semmax Financial Advisors Inc. grew its holdings in shares of Medtronic plc (NYSE:MDT) by 5.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,903 shares of the medical technology company’s stock after buying an additional 2,841 shares during the period. Medtronic accounts for approximately 1.3% of Semmax Financial Advisors Inc.’s holdings, making the stock its 23rd biggest position. Semmax Financial Advisors Inc.’s holdings in Medtronic were worth $4,270,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Gryphon Financial Partners LLC bought a new position in Medtronic in the 4th quarter valued at approximately $220,000. SageView Advisory Group LLC raised its holdings in shares of Medtronic by 59.3% during the fourth quarter. SageView Advisory Group LLC now owns 7,306 shares of the medical technology company’s stock valued at $635,000 after purchasing an additional 2,721 shares during the last quarter. Team Hewins LLC bought a new position in Medtronic during the fourth quarter valued at approximately $202,000. Cape Investment Advisory Inc. grew its position in Medtronic by 13.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 3,197 shares of the medical technology company’s stock worth $263,000 after purchasing an additional 369 shares during the period. Finally, Artisan Partners Limited Partnership grew its holdings in shares of Medtronic by 2.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,193,947 shares of the medical technology company’s stock worth $98,357,000 after acquiring an additional 27,004 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Price Performance

Shares of MDT stock opened at $89.86 on Tuesday. The stock has a market capitalization of $115.22 billion, a price-to-earnings ratio of 32.68, a P/E/G ratio of 2.57 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 plc has a twelve month low of $68.84 and a twelve month high of $91.49. The stock has a fifty day simple moving average of $85.03 and a two-hundred day simple moving average of $82.99.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $7.90 billion. During the same quarter last year, the firm posted $1.20 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Friday, September 27th. Medtronic’s payout ratio is currently 101.82%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MDT shares. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. Truist Financial lifted their price target on shares of Medtronic from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Daiwa America raised Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a research note on Wednesday, August 21st. Finally, Robert W. Baird increased their price objective on shares of Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $92.92.

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.