Global Trust Asset Management LLC Grows Holdings in Medtronic plc (NYSE:MDT)

Global Trust Asset Management LLC grew its stake in Medtronic plc (NYSE:MDT) by 7.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,665 shares of the medical technology company’s stock after acquiring an additional 259 shares during the period. Global Trust Asset Management LLC’s holdings in Medtronic were worth $330,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mcdaniel Terry & Co. raised its stake in shares of Medtronic by 3.0% in the 3rd quarter. Mcdaniel Terry & Co. now owns 8,568 shares of the medical technology company’s stock valued at $771,000 after acquiring an additional 250 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Medtronic by 1.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 58,474 shares of the medical technology company’s stock valued at $5,264,000 after acquiring an additional 1,034 shares during the period. Pinnacle West Asset Management Inc. raised its stake in shares of Medtronic by 3.6% in the 3rd quarter. Pinnacle West Asset Management Inc. now owns 8,010 shares of the medical technology company’s stock valued at $721,000 after acquiring an additional 275 shares during the period. DORCHESTER WEALTH MANAGEMENT Co increased its stake in Medtronic by 3.0% during the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 6,072 shares of the medical technology company’s stock worth $547,000 after buying an additional 175 shares during the period. Finally, CENTRAL TRUST Co increased its stake in Medtronic by 3.5% during the 3rd quarter. CENTRAL TRUST Co now owns 10,076 shares of the medical technology company’s stock worth $907,000 after buying an additional 342 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Down 1.4 %

NYSE MDT opened at $90.99 on Friday. The firm has a 50 day moving average of $89.04 and a two-hundred day moving average of $83.74. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $92.68. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $116.67 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84.

Medtronic (NYSE:MDT) last issued its earnings results 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 business had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. During the same quarter in the prior year, the business posted $1.20 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, research analysts expect that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s payout ratio is 101.82%.

Analysts Set New Price Targets

Several brokerages recently weighed in on MDT. Evercore ISI upped 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. Oppenheimer upped their target price on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. Citigroup upped their target price on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Truist Financial upped their target price on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Finally, Stifel Nicolaus upped their target price on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $95.36.

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.