Sanctuary Advisors LLC Raises Stock Holdings in Medtronic plc (NYSE:MDT)

Sanctuary Advisors LLC boosted its holdings in shares of Medtronic plc (NYSE:MDT) by 6.8% in the third quarter, Holdings Channel.com reports. The fund owned 181,843 shares of the medical technology company’s stock after acquiring an additional 11,651 shares during the quarter. Sanctuary Advisors LLC’s holdings in Medtronic were worth $15,677,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Olstein Capital Management L.P. increased its position in shares of Medtronic by 19.2% during the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock worth $7,833,000 after acquiring an additional 14,000 shares during the period. Y Intercept Hong Kong Ltd increased its holdings in Medtronic by 322.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock worth $6,626,000 after purchasing an additional 56,178 shares during the period. Ferguson Wellman Capital Management Inc. bought a new stake in Medtronic during the 3rd quarter valued at $9,486,000. Harvest Portfolios Group Inc. lifted its holdings in shares of Medtronic by 6.5% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company’s stock worth $62,042,000 after buying an additional 42,112 shares during the period. Finally, Soltis Investment Advisors LLC grew its position in shares of Medtronic by 30.0% during the 3rd quarter. Soltis Investment Advisors LLC now owns 88,110 shares of the medical technology company’s stock worth $7,933,000 after buying an additional 20,352 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Truist Financial lifted their price objective on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a report on Monday, October 14th. Oppenheimer upped their price target on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 21st. Evercore ISI lifted their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Wells Fargo & Company lowered their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Daiwa America raised Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Hold” and an average target price of $95.27.

Medtronic Trading Down 0.3 %

Shares of NYSE:MDT opened at $82.46 on Friday. The business’s 50-day moving average is $87.66 and its 200 day moving average is $84.99. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68. The firm has a market capitalization of $105.73 billion, a P/E ratio of 25.22, a P/E/G ratio of 2.35 and a beta of 0.82.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share. On average, research analysts predict that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

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.