Medtronic plc (NYSE:MDT) Shares Acquired by Patrick M Sweeney & Associates Inc.

Patrick M Sweeney & Associates Inc. boosted its position in shares of Medtronic plc (NYSE:MDT) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,499 shares of the medical technology company’s stock after purchasing an additional 444 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in Medtronic were worth $585,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. raised its position in shares of Medtronic by 124.9% in the 1st quarter. Sunbelt Securities Inc. now owns 3,128 shares of the medical technology company’s stock valued at $273,000 after purchasing an additional 1,737 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in Medtronic during the 1st quarter valued at $152,000. DGS Capital Management LLC grew its holdings in Medtronic by 106.8% during the 1st quarter. DGS Capital Management LLC now owns 5,953 shares of the medical technology company’s stock worth $519,000 after acquiring an additional 3,075 shares in the last quarter. Wealthcare Advisory Partners LLC increased its position in shares of Medtronic by 21.4% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 8,378 shares of the medical technology company’s stock worth $730,000 after purchasing an additional 1,476 shares during the last quarter. Finally, Signet Financial Management LLC raised its stake in shares of Medtronic by 5.3% in the 1st quarter. Signet Financial Management LLC now owns 3,120 shares of the medical technology company’s stock valued at $272,000 after purchasing an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Citigroup upped their price objective on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and raised their target price for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Finally, Robert W. Baird boosted their price target on shares of Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $95.36.

Medtronic Price Performance

NYSE:MDT opened at $92.27 on Thursday. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The business’s 50-day moving average price is $89.04 and its 200 day moving average price is $83.74. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $92.39. The firm has a market cap of $118.32 billion, a P/E ratio of 33.55, a PEG ratio of 2.53 and a beta of 0.84.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) 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 company had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. During the same quarter in the previous year, the company posted $1.20 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts predict that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.03%. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

Medtronic Company 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.