Pathway Financial Advisers LLC Has $3.66 Million Stock Position in Medtronic plc (NYSE:MDT)

Pathway Financial Advisers LLC grew its holdings in shares of Medtronic plc (NYSE:MDT) by 3.1% during the third quarter, HoldingsChannel.com reports. The firm owned 40,637 shares of the medical technology company’s stock after acquiring an additional 1,216 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Medtronic were worth $3,659,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Childress Capital Advisors LLC grew its position in shares of Medtronic by 46.5% during the 3rd quarter. Childress Capital Advisors LLC now owns 4,265 shares of the medical technology company’s stock worth $384,000 after purchasing an additional 1,354 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in Medtronic in the 3rd quarter valued at approximately $224,000. Hedeker Wealth LLC lifted its stake in Medtronic by 1.1% in the 3rd quarter. Hedeker Wealth LLC now owns 47,535 shares of the medical technology company’s stock valued at $4,280,000 after purchasing an additional 511 shares during the last quarter. MONECO Advisors LLC raised its stake in shares of Medtronic by 4.4% during the third quarter. MONECO Advisors LLC now owns 6,293 shares of the medical technology company’s stock valued at $567,000 after acquiring an additional 265 shares during the last quarter. Finally, Integrated Advisors Network LLC raised its stake in shares of Medtronic by 3.5% during the third quarter. Integrated Advisors Network LLC now owns 14,530 shares of the medical technology company’s stock valued at $1,308,000 after acquiring an additional 498 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Down 0.3 %

Medtronic stock opened at $90.33 on Wednesday. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.68. The stock has a market cap of $115.82 billion, a PE ratio of 32.85, a price-to-earnings-growth ratio of 2.60 and a beta of 0.84. The firm’s 50-day simple moving average is $89.52 and its 200 day simple moving average is $83.98. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13.

Medtronic (NYSE:MDT) last released its quarterly earnings results 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. The business had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.20 earnings per share. Research analysts predict that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Friday, September 27th. Medtronic’s payout ratio is 101.82%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MDT. 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 report on Wednesday, August 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Friday, October 25th. Robert W. Baird lifted their price target on shares of Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and lifted their price target for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Finally, Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.