Apollon Wealth Management LLC Has $3.77 Million Stock Position in Medtronic plc (NYSE:MDT)

Apollon Wealth Management LLC cut its position in Medtronic plc (NYSE:MDT) by 11.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,830 shares of the medical technology company’s stock after selling 5,193 shares during the period. Apollon Wealth Management LLC’s holdings in Medtronic were worth $3,766,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP lifted its holdings in shares of Medtronic by 73.0% in the first quarter. GSA Capital Partners LLP now owns 4,945 shares of the medical technology company’s stock valued at $431,000 after purchasing an additional 2,086 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Medtronic by 1.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 781,261 shares of the medical technology company’s stock worth $68,087,000 after acquiring an additional 8,141 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Medtronic by 0.3% in the first quarter. TD Asset Management Inc now owns 1,037,061 shares of the medical technology company’s stock valued at $90,380,000 after purchasing an additional 2,847 shares during the last quarter. SageView Advisory Group LLC lifted its position in shares of Medtronic by 130.3% during the first quarter. SageView Advisory Group LLC now owns 16,829 shares of the medical technology company’s stock valued at $1,467,000 after purchasing an additional 9,523 shares in the last quarter. Finally, Managed Asset Portfolios LLC boosted its holdings in Medtronic by 0.9% during the first quarter. Managed Asset Portfolios LLC now owns 247,526 shares of the medical technology company’s stock worth $21,572,000 after purchasing an additional 2,320 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MDT has been the topic of several recent analyst reports. Robert W. Baird lifted their target price on shares of Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Oppenheimer upped their price objective on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. Barclays lifted their target price 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 upgraded shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus boosted their target price on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Medtronic presently has an average rating of “Hold” and a consensus target price of $95.36.

Medtronic Price Performance

Shares of NYSE MDT opened at $88.25 on Wednesday. The stock has a fifty day moving average of $89.67 and a 200-day moving average of $84.57. The stock has a market cap of $113.18 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 2.51 and a beta of 0.84. 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 $71.64 and a fifty-two week high of $92.68.

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

Medtronic Announces Dividend

The company 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 annualized dividend and a yield of 3.17%. The ex-dividend date was Friday, September 27th. Medtronic’s dividend payout ratio is presently 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.