Jmac Enterprises LLC Increases Stock Position in Medtronic plc (NYSE:MDT)

Jmac Enterprises LLC boosted its stake in shares of Medtronic plc (NYSE:MDT) by 7.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,507 shares of the medical technology company’s stock after purchasing an additional 714 shares during the period. Jmac Enterprises LLC’s holdings in Medtronic were worth $946,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research firms recently commented on MDT. Evercore ISI boosted their price target on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Friday, October 25th. Oppenheimer lifted their price objective on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. Barclays lifted their price target on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Truist Financial boosted their price objective on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $95.36.

Medtronic Trading Down 1.7 %

Shares of NYSE:MDT opened at $88.60 on Thursday. The business has a 50-day moving average price of $89.69 and a 200-day moving average price of $84.38. The stock has a market cap of $113.63 billion, a price-to-earnings ratio of 30.44, a PEG ratio of 2.55 and a beta of 0.84. Medtronic plc has a 52-week low of $69.32 and a 52-week high of $92.68. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. During the same period in the prior year, the firm earned $1.20 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities analysts predict that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.70 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.16%. Medtronic’s dividend payout ratio is presently 94.59%.

Medtronic 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.