Future Financial Wealth Managment LLC Purchases New Position in Medtronic plc (NYSE:MDT)

Future Financial Wealth Managment LLC bought a new position in shares of Medtronic plc (NYSE:MDT) in the third quarter, HoldingsChannel.com reports. The firm bought 1,425 shares of the medical technology company’s stock, valued at approximately $128,000.

A number of other large investors have also made changes to their positions in the business. Lynx Investment Advisory purchased a new stake in shares of Medtronic during the 2nd quarter worth about $28,000. Tributary Capital Management LLC purchased a new stake in Medtronic during the 1st quarter valued at approximately $33,000. Fortis Group Advisors LLC raised its stake in shares of Medtronic by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock worth $38,000 after buying an additional 230 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of Medtronic in the 1st quarter worth approximately $39,000. Finally, Gleason Group Inc. purchased a new position in Medtronic during the second quarter worth $42,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MDT. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and raised their price target for the company from $76.00 to $90.00 in a report on Thursday, August 15th. Robert W. Baird upped their price objective on shares of Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Oppenheimer lifted their price objective on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a report on Wednesday, August 21st. Barclays boosted their price target on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company upped their price target on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $94.64.

Medtronic Stock Up 1.3 %

Shares of MDT stock opened at $88.14 on Wednesday. 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 50 day moving average of $87.06 and a 200 day moving average of $83.35. The stock has a market cap of $113.02 billion, a P/E ratio of 32.05, a P/E/G ratio of 2.56 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. The firm had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 EPS. As a group, sell-side analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is currently 101.82%.

Medtronic Company 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.