Medtronic plc (NYSE:MDT) Shares Bought by First PREMIER Bank

First PREMIER Bank grew its stake in Medtronic plc (NYSE:MDT) by 1.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,417 shares of the medical technology company’s stock after purchasing an additional 116 shares during the period. First PREMIER Bank’s holdings in Medtronic were worth $577,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MDT. Capital Research Global Investors raised its position in Medtronic by 7.1% in the 1st 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 purchasing an additional 2,044,109 shares during the last quarter. Pzena Investment Management LLC raised its position in Medtronic by 8.3% during the 2nd quarter. Pzena Investment Management LLC now owns 8,307,123 shares of the medical technology company’s stock worth $653,854,000 after buying an additional 637,931 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Medtronic by 7.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock worth $560,494,000 after buying an additional 515,751 shares during the last quarter. Longview Partners Guernsey LTD raised its position in Medtronic by 2.3% during the 1st quarter. Longview Partners Guernsey LTD now owns 6,635,054 shares of the medical technology company’s stock worth $578,245,000 after buying an additional 147,737 shares during the last quarter. Finally, Raymond James & Associates raised its position in Medtronic by 5.7% during the 2nd quarter. Raymond James & Associates now owns 6,246,361 shares of the medical technology company’s stock worth $491,651,000 after buying an additional 336,618 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. UBS Group upgraded shares of 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. Truist Financial increased their price target on shares of Medtronic from $85.00 to $90.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Stifel Nicolaus increased their price objective on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Finally, Evercore ISI increased their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus price target of $94.64.

Medtronic Trading Down 0.3 %

NYSE MDT opened at $87.86 on Wednesday. Medtronic plc has a one year low of $68.84 and a one year high of $91.49. The company’s 50 day moving average price is $87.06 and its 200 day moving average price is $83.35. 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 $112.66 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 2.56 and a beta of 0.84.

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

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.19%. Medtronic’s dividend payout ratio is currently 101.82%.

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.