Medtronic plc (NYSE:MDT) Shares Bought by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC grew its position in shares of Medtronic plc (NYSE:MDT) by 11,939.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,371 shares of the medical technology company’s stock after buying an additional 3,343 shares during the quarter. Gilliland Jeter Wealth Management LLC’s holdings in Medtronic were worth $303,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Lynx Investment Advisory acquired a new stake in shares of Medtronic in the second quarter valued at approximately $28,000. Tributary Capital Management LLC purchased a new position in Medtronic during the 1st quarter worth $33,000. Riverview Trust Co acquired a new position in Medtronic in the first quarter valued at $39,000. Gleason Group Inc. purchased a new stake in shares of Medtronic in the second quarter valued at about $42,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Medtronic during the second quarter worth about $43,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Daiwa America raised Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Stifel Nicolaus upped their price objective on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Robert W. Baird increased their price target on shares of Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Finally, Evercore ISI boosted their target price on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus target price of $95.36.

Medtronic Price Performance

Shares of NYSE MDT opened at $92.24 on Monday. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The stock has a market cap of $118.28 billion, a price-to-earnings ratio of 33.54, a PEG ratio of 2.53 and a beta of 0.84. The company’s 50-day moving average price is $88.45 and its 200 day moving average price is $83.58. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $92.25.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. During the same period last year, the company posted $1.20 EPS. The company’s revenue was up 3.4% on a year-over-year basis. As a group, research analysts forecast that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

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