Legacy Capital Wealth Partners LLC Acquires 189 Shares of Medtronic plc (NYSE:MDT)

Legacy Capital Wealth Partners LLC grew its holdings in shares of Medtronic plc (NYSE:MDT) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,978 shares of the medical technology company’s stock after buying an additional 189 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Medtronic were worth $1,168,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDT. Fortitude Family Office LLC purchased a new position in shares of Medtronic during the third quarter valued at about $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic during the third quarter valued at approximately $27,000. Lynx Investment Advisory purchased a new stake in shares of Medtronic in the 2nd quarter worth about $28,000. Gleason Group Inc. purchased a new stake in Medtronic in the second quarter worth about $42,000. Finally, Opal Wealth Advisors LLC bought a new position in Medtronic during the 2nd quarter valued at approximately $43,000. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Barclays boosted their price target on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Daiwa America raised Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Evercore ISI raised their price target on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, Stifel Nicolaus boosted their price objective on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” 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 given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $95.36.

Medtronic Price Performance

NYSE MDT opened at $87.72 on Friday. The business’s fifty day moving average is $89.68 and its 200 day moving average is $84.46. 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 plc has a fifty-two week low of $69.32 and a fifty-two week high of $92.68. The company has a market capitalization of $112.50 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 2.58 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The business had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.20 earnings per share. Sell-side analysts predict that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors 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 3.19%. Medtronic’s dividend payout ratio is 94.59%.

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.