Medtronic plc (NYSE:MDT) Shares Acquired by Argonautica Private Wealth Management Inc.

Argonautica Private Wealth Management Inc. increased its holdings in shares of Medtronic plc (NYSE:MDT) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,592 shares of the medical technology company’s stock after purchasing an additional 545 shares during the quarter. Medtronic makes up approximately 1.2% of Argonautica Private Wealth Management Inc.’s portfolio, making the stock its 18th biggest position. Argonautica Private Wealth Management Inc.’s holdings in Medtronic were worth $3,654,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Private Advisor Group LLC lifted its stake in Medtronic by 2.9% in the first quarter. Private Advisor Group LLC now owns 113,021 shares of the medical technology company’s stock valued at $9,849,000 after buying an additional 3,175 shares during the last quarter. Mission Wealth Management LP lifted its stake in Medtronic by 13.0% in the first quarter. Mission Wealth Management LP now owns 6,251 shares of the medical technology company’s stock valued at $545,000 after buying an additional 718 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Medtronic by 12.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 290,357 shares of the medical technology company’s stock valued at $23,668,000 after buying an additional 31,098 shares during the last quarter. PDS Planning Inc purchased a new stake in Medtronic in the first quarter valued at approximately $207,000. Finally, CNB Bank lifted its stake in Medtronic by 17.8% in the first quarter. CNB Bank now owns 15,622 shares of the medical technology company’s stock valued at $1,361,000 after buying an additional 2,358 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the subject of a number of research reports. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Friday, October 25th. Citigroup upped their price target on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Oppenheimer upped their price target on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. Finally, Piper Sandler upped their price target on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $95.36.

Medtronic Price Performance

Medtronic stock traded up $0.82 during trading hours on Friday, hitting $90.07. The stock had a trading volume of 5,052,408 shares, compared to its average volume of 6,204,974. 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 has a market capitalization of $115.51 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 2.59 and a beta of 0.84. Medtronic plc has a 1-year low of $69.32 and a 1-year high of $92.68. The stock’s fifty day moving average is $89.64 and its two-hundred day moving average is $84.13.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03. The company 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%. Medtronic’s revenue 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. As a group, analysts predict that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.70 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. Medtronic’s dividend payout ratio is currently 94.59%.

About Medtronic

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.