Medtronic plc (NYSE:MDT) Shares Bought by Dakota Wealth Management

Dakota Wealth Management raised its position in Medtronic plc (NYSE:MDT) by 15.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 52,342 shares of the medical technology company’s stock after acquiring an additional 6,951 shares during the quarter. Dakota Wealth Management’s holdings in Medtronic were worth $4,713,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. M&G Plc bought a new position in shares of Medtronic in the first quarter valued at approximately $259,160,000. Capital Research Global Investors boosted its holdings in shares of Medtronic by 7.1% in the first quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after acquiring an additional 2,044,109 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Medtronic by 1,195.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock valued at $144,637,000 after acquiring an additional 1,695,800 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Medtronic by 8,908.6% in the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock valued at $116,896,000 after acquiring an additional 1,284,002 shares in the last quarter. Finally, Troy Asset Management Ltd bought a new position in shares of Medtronic in the second quarter valued at approximately $85,440,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MDT. 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. Citigroup raised their target price on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Oppenheimer raised their target price 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 shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company raised their target price on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $95.36.

Medtronic Stock Down 0.4 %

Shares of NYSE:MDT opened at $90.59 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The company has a market cap of $116.18 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 2.60 and a beta of 0.84. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $92.68. The firm has a 50 day simple moving average of $89.18 and a 200 day simple moving average of $83.79.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping 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 company had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. As a group, research analysts expect that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.09%. Medtronic’s payout ratio is 94.59%.

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.