Beacon Investment Advisory Services Inc. grew its position in shares of Medtronic PLC (NYSE:MDT – Free Report) by 8,759.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,632 shares of the medical technology company’s stock after acquiring an additional 75,767 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Medtronic were worth $5,995,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Madison Asset Management LLC raised its holdings in Medtronic by 15.0% during the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock worth $18,752,000 after buying an additional 25,527 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Medtronic by 0.4% during the fourth quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company’s stock valued at $939,009,000 after buying an additional 40,196 shares during the last quarter. Gradient Investments LLC increased its position in shares of Medtronic by 3.9% during the second quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company’s stock worth $38,842,000 after acquiring an additional 18,509 shares in the last quarter. Czech National Bank increased its position in shares of Medtronic by 4.7% during the second quarter. Czech National Bank now owns 365,443 shares of the medical technology company’s stock worth $28,589,000 after acquiring an additional 16,292 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Medtronic by 12.7% in the 4th quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company’s stock worth $75,988,000 after acquiring an additional 89,111 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.
Medtronic Price Performance
Medtronic stock opened at $92.41 on Wednesday. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33. The company’s 50 day moving average price is $87.33 and its two-hundred day moving average price is $85.21. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The stock has a market cap of $118.20 billion, a P/E ratio of 22.76, a P/E/G ratio of 2.21 and a beta of 0.56.
Medtronic Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 25th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, September 25th. Medtronic’s dividend payout ratio is 70.94%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Medtronic from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, September 2nd. Stifel Nicolaus increased their price objective on Medtronic from $80.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, September 2nd. Needham & Company LLC lifted their target price on Medtronic from $101.00 to $114.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $92.00 price target on shares of Medtronic in a report on Thursday, September 3rd. Finally, Sanford C. Bernstein lowered their price target on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Nineteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.
Check Out Our Latest Stock Analysis on MDT
Medtronic Profile
Medtronic plc is a global medical technology company that develops, manufactures and sells devices and therapies used to diagnose and treat a broad range of medical conditions. Its products are designed for hospitals, physicians and patients across areas including cardiac care, diabetes, neurological disorders, spinal conditions and surgical procedures.
The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, heart valves, neurostimulation systems, implantable pumps, spinal implants and surgical technologies.
Featured Stories
- Five stocks we like better than Medtronic
- Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
- Despite Post-Earnings Drop, Wall Street Analysts Eye New Highs for Broadcom Stock
- Morgan Stanley Eyes Good Things Ahead for Meta After $18 Billion Legal Settlement
- Q3 Earnings Could Be the Catalyst the Market Has Been Waiting For
Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT – Free Report).
Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.
