Marcum Wealth LLC increased its position in shares of Medtronic plc (NYSE:MDT) by 3.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 8,448 shares of the medical technology company’s stock after buying an additional 298 shares during the period. Marcum Wealth LLC’s holdings in Medtronic were worth $1,049,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of MDT. Grandview Asset Management LLC acquired a new stake in Medtronic in the first quarter worth $25,000. Solstein Capital LLC acquired a new stake in Medtronic in the first quarter worth $33,000. Altshuler Shaham Ltd acquired a new stake in Medtronic in the first quarter worth $34,000. Corbenic Partners LLC grew its holdings in Medtronic by 264.2% in the second quarter. Corbenic Partners LLC now owns 295 shares of the medical technology company’s stock worth $37,000 after purchasing an additional 214 shares during the period. Finally, Aspire Private Capital LLC grew its holdings in Medtronic by 1,316.7% in the first quarter. Aspire Private Capital LLC now owns 340 shares of the medical technology company’s stock worth $40,000 after purchasing an additional 316 shares during the period. Institutional investors and hedge funds own 79.59% of the company’s stock.
A number of research firms have commented on MDT. Truist Securities raised their price target on shares of Medtronic from $138.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, August 25th. Morgan Stanley lifted their price objective on shares of Medtronic from $140.00 to $154.00 and gave the company an “overweight” rating in a report on Wednesday, August 25th. Truist lifted their price objective on shares of Medtronic from $138.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, August 25th. BTIG Research cut shares of Medtronic from a “buy” rating to a “neutral” rating in a report on Monday, August 9th. Finally, Citigroup reiterated a “focus list” rating and set a $153.00 price objective (up from $143.00) on shares of Medtronic in a report on Wednesday, August 25th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $144.18.
MDT stock traded up $0.77 during mid-day trading on Wednesday, hitting $131.35. The company had a trading volume of 34,974 shares, compared to its average volume of 4,377,941. The firm has a market cap of $176.52 billion, a PE ratio of 45.66, a price-to-earnings-growth ratio of 2.62 and a beta of 0.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.34 and a current ratio of 2.89. Medtronic plc has a 12 month low of $98.94 and a 12 month high of $135.89. The stock’s fifty day moving average price is $129.86 and its two-hundred day moving average price is $125.79.
Medtronic (NYSE:MDT) last announced its quarterly earnings data on Monday, August 23rd. The medical technology company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.32 by $0.09. The business had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.88 billion. Medtronic had a net margin of 12.29% and a return on equity of 13.85%. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Equities analysts anticipate that Medtronic plc will post 5.7 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Friday, September 24th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Thursday, September 23rd.
Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiac and Vascular Group; Minimally Invasive Technologies Group; Restorative Therapies Group; and Diabetes Group.
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