Lynch & Associates IN Has $659,000 Stock Holdings in Medtronic plc (NYSE:MDT)

Lynch & Associates IN grew its position in Medtronic plc (NYSE:MDT) by 15.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,324 shares of the medical technology company’s stock after acquiring an additional 1,000 shares during the period. Lynch & Associates IN’s holdings in Medtronic were worth $659,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Lynx Investment Advisory bought a new stake in shares of Medtronic in the second quarter worth about $28,000. Tributary Capital Management LLC acquired a new position in shares of Medtronic in the 1st quarter valued at approximately $33,000. Riverview Trust Co bought a new stake in Medtronic during the 1st quarter worth approximately $39,000. Gleason Group Inc. acquired a new stake in Medtronic during the 2nd quarter worth approximately $42,000. Finally, Opal Wealth Advisors LLC bought a new position in Medtronic in the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of several research reports. Robert W. Baird increased their price objective 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. Daiwa America upgraded Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Truist Financial lifted their price target on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Monday. Evercore ISI increased their price objective on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Citigroup lifted their target price on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Medtronic has an average rating of “Hold” and an average target price of $95.36.

Medtronic Price Performance

NYSE:MDT opened at $89.84 on Wednesday. The stock has a market capitalization of $115.20 billion, a PE ratio of 32.67, a P/E/G ratio of 2.53 and a beta of 0.84. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $91.49. The firm has a fifty day simple moving average of $87.92 and a 200 day simple moving average of $83.47. The company has a current ratio of 2.13, a quick ratio of 1.61 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. The firm had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 earnings per share. On average, research analysts expect that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.70 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.12%. Medtronic’s dividend payout ratio is currently 101.82%.

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.