Wilson & Boucher Capital Management LLC Buys Shares of 2,212 Medtronic plc (NYSE:MDT)

Wilson & Boucher Capital Management LLC bought a new stake in Medtronic plc (NYSE:MDT) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 2,212 shares of the medical technology company’s stock, valued at approximately $199,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Olstein Capital Management L.P. boosted its holdings in Medtronic by 19.2% in the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock worth $7,833,000 after acquiring an additional 14,000 shares in the last quarter. Ferguson Wellman Capital Management Inc. acquired a new stake in Medtronic in the third quarter worth about $9,486,000. Y Intercept Hong Kong Ltd boosted its holdings in Medtronic by 322.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock worth $6,626,000 after acquiring an additional 56,178 shares in the last quarter. Harvest Portfolios Group Inc. boosted its holdings in Medtronic by 6.5% in the third quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company’s stock worth $62,042,000 after acquiring an additional 42,112 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Medtronic by 6.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 368,682 shares of the medical technology company’s stock worth $29,019,000 after acquiring an additional 21,995 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Stifel Nicolaus raised their price target on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Oppenheimer lifted their target price on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Sanford C. Bernstein lifted their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, Truist Financial lifted their target price on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $95.27.

Medtronic Trading Down 0.4 %

Medtronic stock opened at $83.60 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The stock’s 50 day simple moving average is $88.13 and its two-hundred day simple moving average is $85.01. The firm has a market cap of $107.20 billion, a PE ratio of 25.57, a P/E/G ratio of 2.38 and a beta of 0.82.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. Analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.35%. Medtronic’s dividend payout ratio (DPR) is 85.63%.

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.