Lion Street Advisors LLC Purchases Shares of 1,973 Medtronic plc (NYSE:MDT)

Lion Street Advisors LLC acquired a new stake in Medtronic plc (NYSE:MDT) during the 1st quarter, Holdings Channel reports. The firm acquired 1,973 shares of the medical technology company’s stock, valued at approximately $234,000. Medtronic comprises approximately 5.6% of Lion Street Advisors LLC’s portfolio, making the stock its 7th largest position.

Several other institutional investors have also made changes to their positions in MDT. Wealth Alliance lifted its position in shares of Medtronic by 3.4% in the third quarter. Wealth Alliance now owns 9,874 shares of the medical technology company’s stock valued at $1,026,000 after acquiring an additional 323 shares in the last quarter. Westover Capital Advisors LLC lifted its position in shares of Medtronic by 29.5% in the third quarter. Westover Capital Advisors LLC now owns 3,456 shares of the medical technology company’s stock worth $359,000 after buying an additional 787 shares in the last quarter. IHT Wealth Management LLC lifted its position in shares of Medtronic by 26.9% in the third quarter. IHT Wealth Management LLC now owns 9,087 shares of the medical technology company’s stock worth $944,000 after buying an additional 1,929 shares in the last quarter. Catalyst Private Wealth LLC purchased a new stake in shares of Medtronic in the third quarter worth about $31,000. Finally, Jeppson Wealth Management LLC purchased a new stake in shares of Medtronic in the third quarter worth about $270,000. Institutional investors and hedge funds own 79.17% of the company’s stock.

MDT has been the topic of a number of research analyst reports. Raymond James boosted their target price on Medtronic from $122.00 to $128.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 3rd. Credit Suisse Group boosted their target price on Medtronic from $126.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 3rd. SVB Leerink boosted their target price on Medtronic from $123.00 to $129.00 and gave the stock a “market perform” rating in a research report on Tuesday, March 2nd. Cowen upped their price objective on Medtronic from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, February 24th. Finally, Atlantic Securities assumed coverage on Medtronic in a research report on Wednesday. They set an “overweight” rating and a $153.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $123.86.

NYSE MDT traded up $0.31 during midday trading on Thursday, hitting $130.56. 65,962 shares of the company traded hands, compared to its average volume of 4,729,647. Medtronic plc has a 52 week low of $87.68 and a 52 week high of $131.38. The company’s 50-day simple moving average is $119.66 and its 200-day simple moving average is $114.71. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.16 and a quick ratio of 1.79. The company has a market cap of $176.00 billion, a PE ratio of 49.71, a price-to-earnings-growth ratio of 3.65 and a beta of 0.70.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 23rd. The medical technology company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.15 by $0.14. Medtronic had a return on equity of 9.71% and a net margin of 12.69%. The firm had revenue of $7.78 billion during the quarter, compared to analyst estimates of $7.77 billion. During the same quarter in the prior year, the business posted $1.44 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. On average, research analysts predict that Medtronic plc will post 4.21 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 16th. Stockholders of record on Friday, March 26th were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, March 25th. This represents a $2.32 annualized dividend and a dividend yield of 1.78%. Medtronic’s dividend payout ratio is presently 50.54%.

About Medtronic

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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