Nikulski Financial Inc. Acquires New Stake in Medtronic plc (NYSE:MDT)

Nikulski Financial Inc. bought a new position in Medtronic plc (NYSE:MDT) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,251 shares of the medical technology company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new stake in shares of Medtronic in the 3rd quarter valued at $27,000. Highline Wealth Partners LLC bought a new position in shares of Medtronic in the third quarter valued at about $27,000. Lynx Investment Advisory acquired a new position in shares of Medtronic during the second quarter worth approximately $28,000. Gleason Group Inc. bought a new position in Medtronic in the 2nd quarter valued at $42,000. Finally, Opal Wealth Advisors LLC bought a new position in Medtronic in the second quarter valued at about $43,000. 82.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on MDT. Robert W. Baird upped their price objective on Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Wells Fargo & Company upped their target price 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 shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Barclays upped their target price on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $95.36.

Medtronic Trading Down 1.5 %

NYSE MDT traded down $1.35 during mid-day trading on Thursday, reaching $89.15. 238,907 shares of the stock were exchanged, compared to its average volume of 6,178,613. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. The stock has a market cap of $114.31 billion, a P/E ratio of 32.93, a P/E/G ratio of 2.60 and a beta of 0.84. The stock has a 50 day simple moving average of $89.58 and a 200-day simple moving average of $84.03. Medtronic plc has a one year low of $69.32 and a one year high of $92.68.

Medtronic (NYSE:MDT) last posted 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 return on equity of 13.68% and a net margin of 12.06%. The firm had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. During the same period last year, the company posted $1.20 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. On average, analysts anticipate that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Friday, September 27th. Medtronic’s payout ratio is 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.