XML Financial LLC Buys 1,351 Shares of Medtronic plc (NYSE:MDT)

XML Financial LLC raised its position in Medtronic plc (NYSE:MDT) by 12.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,536 shares of the medical technology company’s stock after buying an additional 1,351 shares during the quarter. XML Financial LLC’s holdings in Medtronic were worth $1,129,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Capital Research Global Investors increased its stake in Medtronic by 7.1% in the first quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after acquiring an additional 2,044,109 shares during the last quarter. Pzena Investment Management LLC grew its position in Medtronic by 8.3% during the 2nd quarter. Pzena Investment Management LLC now owns 8,307,123 shares of the medical technology company’s stock worth $653,854,000 after acquiring an additional 637,931 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Medtronic by 7.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock valued at $560,494,000 after buying an additional 515,751 shares during the last quarter. Longview Partners Guernsey LTD lifted its holdings in shares of Medtronic by 2.3% during the first quarter. Longview Partners Guernsey LTD now owns 6,635,054 shares of the medical technology company’s stock worth $578,245,000 after purchasing an additional 147,737 shares during the period. Finally, Raymond James & Associates increased its stake in shares of Medtronic by 2.3% in the third quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock valued at $575,460,000 after buying an additional 145,504 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MDT shares. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Daiwa America raised Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. 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. Citigroup lifted their target price on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company raised their price objective on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $95.36.

Medtronic Trading Down 0.5 %

Shares of Medtronic stock opened at $87.72 on Monday. Medtronic plc has a 1 year low of $69.32 and a 1 year high of $92.68. The company has a 50 day simple moving average of $89.68 and a two-hundred day simple moving average of $84.48. The firm has a market cap of $112.50 billion, a PE ratio of 29.64, a PEG ratio of 2.51 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61.

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

Medtronic Announces Dividend

The firm also recently declared 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 3.19%. The ex-dividend date was Friday, September 27th. 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.