Mills Wealth Advisors LLC Buys 263 Shares of Medtronic plc (NYSE:MDT)

Mills Wealth Advisors LLC boosted its position in Medtronic plc (NYSE:MDT) by 10.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,901 shares of the medical technology company’s stock after acquiring an additional 263 shares during the quarter. Mills Wealth Advisors LLC’s holdings in Medtronic were worth $261,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MDT. First PREMIER Bank raised its holdings in Medtronic by 1.8% during the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock worth $577,000 after buying an additional 116 shares during the last quarter. Quent Capital LLC grew its position in Medtronic by 8.0% in the 1st quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock worth $146,000 after purchasing an additional 125 shares in the last quarter. Abbrea Capital LLC increased its stake in Medtronic by 2.5% in the 1st quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock valued at $446,000 after buying an additional 125 shares during the last quarter. Waterway Wealth Management LLC lifted its position in shares of Medtronic by 4.8% during the 2nd quarter. Waterway Wealth Management LLC now owns 2,759 shares of the medical technology company’s stock worth $217,000 after buying an additional 126 shares in the last quarter. Finally, Americana Partners LLC grew its holdings in shares of Medtronic by 2.0% in the second quarter. Americana Partners LLC now owns 6,667 shares of the medical technology company’s stock valued at $525,000 after acquiring an additional 128 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Evercore ISI lifted their target price on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Robert W. Baird upped their price target on shares of Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Tuesday, August 20th. Finally, UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and lifted their price target for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $95.36.

Medtronic Trading Down 1.2 %

Shares of MDT traded down $1.10 during midday trading on Monday, hitting $91.14. The stock had a trading volume of 1,588,624 shares, compared to its average volume of 6,232,882. The firm has a market cap of $116.87 billion, a PE ratio of 33.54, a price-to-earnings-growth 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 $92.25. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. The stock’s 50 day moving average is $88.45 and its 200 day moving average is $83.58.

Medtronic (NYSE:MDT) last posted 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. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The firm had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, analysts forecast that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

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.