RBA Wealth Management LLC Buys 5,429 Shares of Medtronic plc (NYSE:MDT)

RBA Wealth Management LLC raised its stake in shares of Medtronic plc (NYSE:MDT) by 12.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 49,495 shares of the medical technology company’s stock after acquiring an additional 5,429 shares during the period. Medtronic accounts for about 1.7% of RBA Wealth Management LLC’s portfolio, making the stock its 28th biggest position. RBA Wealth Management LLC’s holdings in Medtronic were worth $4,456,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Capital Research Global Investors increased its position in shares of Medtronic by 7.1% during the first 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 buying an additional 2,044,109 shares during the period. Pzena Investment Management LLC boosted its stake in shares of Medtronic by 8.3% during the second quarter. Pzena Investment Management LLC now owns 8,307,123 shares of the medical technology company’s stock valued at $653,854,000 after purchasing an additional 637,931 shares during the period. Dimensional Fund Advisors LP raised its holdings in Medtronic by 7.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock worth $560,494,000 after purchasing an additional 515,751 shares in the last quarter. Longview Partners Guernsey LTD increased its holdings in shares of Medtronic by 2.3% during the first quarter. Longview Partners Guernsey LTD now owns 6,635,054 shares of the medical technology company’s stock valued at $578,245,000 after acquiring an additional 147,737 shares in the last quarter. Finally, Raymond James & Associates boosted its position in shares of Medtronic by 2.3% during the third quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock valued at $575,460,000 after buying an additional 145,504 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Up 0.3 %

Shares of MDT stock traded up $0.23 during trading hours on Tuesday, hitting $91.26. 2,099,763 shares of the company were exchanged, compared to its average volume of 6,225,245. The business has a 50 day moving average of $88.65 and a two-hundred day moving average of $83.63. 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 52 week low of $68.84 and a 52 week high of $92.25. The company has a market capitalization of $117.02 billion, a PE ratio of 33.11, a PEG ratio of 2.53 and a beta of 0.84.

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 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 business had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. During the same quarter in the previous year, the company earned $1.20 EPS. The business’s revenue was up 3.4% on a year-over-year basis. Analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.70 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.07%. Medtronic’s dividend payout ratio (DPR) is currently 101.82%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MDT. Stifel Nicolaus lifted their target price on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Tuesday, August 20th. Citigroup upped their target price on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Barclays increased their price target on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Piper Sandler raised their target price on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $95.36.

Medtronic 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.