Good Life Advisors LLC Buys 276 Shares of Medtronic plc (NYSE:MDT)

Good Life Advisors LLC raised its stake in shares of Medtronic plc (NYSE:MDT) by 7.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,870 shares of the medical technology company’s stock after purchasing an additional 276 shares during the quarter. Good Life Advisors LLC’s holdings in Medtronic were worth $348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Lynx Investment Advisory purchased a new position in Medtronic in the second quarter worth $28,000. Tributary Capital Management LLC bought a new position in shares of Medtronic during the 1st quarter valued at about $33,000. Riverview Trust Co purchased a new position in shares of Medtronic during the 1st quarter valued at about $39,000. Gleason Group Inc. bought a new stake in Medtronic in the 2nd quarter worth approximately $42,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Medtronic in the second quarter worth approximately $43,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Up 2.7 %

Shares of NYSE MDT opened at $92.24 on Friday. The firm has a fifty day simple moving average of $88.45 and a two-hundred day simple moving average of $83.59. The firm has a market capitalization of $118.28 billion, a PE ratio of 33.54, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84. 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 $92.25.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $7.90 billion. During the same period in the previous year, the firm posted $1.20 EPS. The business’s revenue was up 3.4% on a year-over-year basis. Equities analysts expect that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio is currently 101.82%.

Analysts Set New Price Targets

MDT has been the topic of several research reports. Piper Sandler lifted their price target on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Evercore ISI boosted their price target on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Robert W. Baird upped their price target on shares of Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Daiwa America upgraded Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Finally, Barclays increased their target price on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $95.36.

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.