Ensign Peak Advisors Inc Acquires 21,545 Shares of Medtronic plc (NYSE:MDT)

Ensign Peak Advisors Inc boosted its holdings in Medtronic plc (NYSE:MDT) by 5.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 388,629 shares of the medical technology company’s stock after buying an additional 21,545 shares during the period. Ensign Peak Advisors Inc’s holdings in Medtronic were worth $30,589,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Boyar Asset Management Inc. lifted its holdings in shares of Medtronic by 2.6% during the 4th quarter. Boyar Asset Management Inc. now owns 4,655 shares of the medical technology company’s stock valued at $383,000 after buying an additional 120 shares during the period. Quent Capital LLC lifted its holdings in shares of Medtronic by 8.0% during the 1st quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock valued at $146,000 after buying an additional 125 shares during the period. Abbrea Capital LLC lifted its holdings in shares of Medtronic by 2.5% during the 1st quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock valued at $446,000 after buying an additional 125 shares during the period. Waterway Wealth Management LLC lifted its holdings in shares of Medtronic by 4.8% during the 2nd quarter. Waterway Wealth Management LLC now owns 2,759 shares of the medical technology company’s stock valued at $217,000 after buying an additional 126 shares during the period. Finally, Angeles Investment Advisors LLC lifted its holdings in shares of Medtronic by 1.0% during the 4th quarter. Angeles Investment Advisors LLC now owns 12,627 shares of the medical technology company’s stock valued at $1,046,000 after buying an additional 128 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Down 0.1 %

Shares of MDT stock opened at $89.34 on Monday. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $91.49. 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 firm has a market capitalization of $114.56 billion, a PE ratio of 32.49, a PEG ratio of 2.57 and a beta of 0.84. The stock has a fifty day simple moving average of $84.77 and a two-hundred day simple moving average of $82.96.

Medtronic (NYSE:MDT) last issued its quarterly 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 return on equity of 13.68% and a net margin of 12.06%. The business had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. During the same quarter in the prior year, the business posted $1.20 EPS. Medtronic’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

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 issued a $0.70 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.13%. Medtronic’s dividend payout ratio (DPR) is 101.82%.

Analyst Ratings Changes

MDT has been the topic of several research analyst reports. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and increased their price target for the company from $76.00 to $90.00 in a report on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Tuesday, August 20th. Piper Sandler increased their price target on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Wells Fargo & Company raised their target price on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Stifel Nicolaus raised their target price on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $92.92.

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.