Medtronic plc (NYSE:MDT) Shares Purchased by MBB Public Markets I LLC

MBB Public Markets I LLC raised its holdings in Medtronic plc (NYSE:MDT) by 1,830.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 93,869 shares of the medical technology company’s stock after acquiring an additional 89,007 shares during the period. MBB Public Markets I LLC’s holdings in Medtronic were worth $7,388,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Daymark Wealth Partners LLC boosted its stake in Medtronic by 26.6% in the 2nd quarter. Daymark Wealth Partners LLC now owns 41,566 shares of the medical technology company’s stock worth $3,272,000 after buying an additional 8,727 shares during the last quarter. Drucker Wealth 3.0 LLC acquired a new position in Medtronic during the second quarter worth approximately $3,662,000. EDENTREE ASSET MANAGEMENT Ltd raised its stake in Medtronic by 3.1% during the second quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 243,219 shares of the medical technology company’s stock worth $19,144,000 after purchasing an additional 7,234 shares during the period. AQR Capital Management LLC increased its holdings in shares of Medtronic by 7.3% during the 2nd quarter. AQR Capital Management LLC now owns 1,445,131 shares of the medical technology company’s stock worth $113,486,000 after buying an additional 98,901 shares during the last quarter. Finally, Armistice Capital LLC grew its position in Medtronic by 30.4% during the second quarter. Armistice Capital LLC now owns 824,511 shares of the medical technology company’s stock valued at $64,897,000 after acquiring an additional 192,152 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Up 0.1 %

Shares of NYSE:MDT opened at $89.45 on Friday. The firm has a market cap of $114.70 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 2.56 and a beta of 0.84. The company has a fifty day simple moving average of $85.42 and a 200 day simple moving average of $83.07. 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 12-month low of $68.84 and a 12-month high of $91.49.

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, topping the consensus estimate of $1.20 by $0.03. The company had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 EPS. On average, equities research analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.13%. Medtronic’s payout ratio is 101.82%.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of research reports. Piper Sandler raised their price objective on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Tuesday, August 20th. Wells Fargo & Company upped their price target on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and raised their price objective for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average 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.