Medtronic plc (NYSE:MDT) Shares Acquired by Wetzel Investment Advisors Inc.

Wetzel Investment Advisors Inc. grew its holdings in Medtronic plc (NYSE:MDT) by 9.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,444 shares of the medical technology company’s stock after buying an additional 293 shares during the period. Wetzel Investment Advisors Inc.’s holdings in Medtronic were worth $312,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MDT. Fortitude Family Office LLC purchased a new position in shares of Medtronic in the third quarter worth about $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic in the third quarter worth about $27,000. Lynx Investment Advisory purchased a new position in shares of Medtronic in the second quarter worth about $28,000. Gleason Group Inc. purchased a new position in shares of Medtronic in the second quarter worth about $42,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Medtronic in the second quarter worth about $43,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of NYSE:MDT opened at $90.20 on Monday. 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 business’s 50 day moving average price is $89.64 and its 200-day moving average price is $84.20. The firm has a market capitalization of $115.68 billion, a PE ratio of 30.54, a P/E/G ratio of 2.55 and a beta of 0.84. Medtronic plc has a 1 year low of $69.32 and a 1 year high of $92.68.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. As a group, equities research analysts expect that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Friday, September 27th. Medtronic’s dividend payout ratio is presently 94.59%.

Wall Street Analyst Weigh In

MDT has been the subject of several research analyst reports. Truist Financial raised their price objective on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. Finally, Wells Fargo & Company lifted their price target on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.