J.W. Cole Advisors Inc. Purchases 327 Shares of Medtronic plc (NYSE:MDT)

J.W. Cole Advisors Inc. lifted its stake in Medtronic plc (NYSE:MDTGet Rating) by 5.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 6,553 shares of the medical technology company’s stock after purchasing an additional 327 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Medtronic were worth $727,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MDT. American Trust increased its stake in Medtronic by 375.9% in the 1st quarter. American Trust now owns 21,743 shares of the medical technology company’s stock worth $2,413,000 after acquiring an additional 17,174 shares during the last quarter. Vise Technologies Inc. bought a new stake in Medtronic in the 1st quarter worth approximately $234,000. Rehmann Capital Advisory Group increased its stake in Medtronic by 3.2% in the 1st quarter. Rehmann Capital Advisory Group now owns 8,194 shares of the medical technology company’s stock worth $909,000 after acquiring an additional 257 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Medtronic by 5.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,580 shares of the medical technology company’s stock worth $24,695,000 after acquiring an additional 12,289 shares during the last quarter. Finally, City State Bank increased its stake in Medtronic by 4.7% in the 1st quarter. City State Bank now owns 12,123 shares of the medical technology company’s stock worth $1,345,000 after acquiring an additional 545 shares during the last quarter. Institutional investors own 79.81% of the company’s stock.

Medtronic Trading Down 0.4 %

Shares of NYSE:MDT opened at $90.25 on Monday. The business’s 50-day moving average is $91.01 and its 200 day moving average is $98.17. Medtronic plc has a 1 year low of $85.66 and a 1 year high of $131.31. The firm has a market capitalization of $119.96 billion, a P/E ratio of 23.32, a P/E/G ratio of 2.38 and a beta of 0.75. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.58 and a quick ratio of 1.23.

Medtronic (NYSE:MDTGet Rating) last announced its earnings results on Tuesday, August 23rd. The medical technology company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.01. Medtronic had a return on equity of 13.64% and a net margin of 16.75%. During the same quarter last year, the company posted $1.41 EPS. On average, research analysts predict that Medtronic plc will post 5.53 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 23rd will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Thursday, September 22nd. Medtronic’s dividend payout ratio is presently 70.28%.

Wall Street Analyst Weigh In

MDT has been the topic of a number of research reports. Cowen set a $125.00 price objective on Medtronic and gave the stock an “outperform” rating in a research note on Monday, May 23rd. StockNews.com downgraded Medtronic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 24th. Royal Bank of Canada cut their target price on Medtronic from $122.00 to $110.00 in a research report on Wednesday, September 7th. Truist Financial cut their price objective on Medtronic from $111.00 to $97.00 and set a “hold” rating on the stock in a research report on Wednesday, July 20th. Finally, Wells Fargo & Company cut their price objective on Medtronic from $104.00 to $96.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 24th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Medtronic presently has an average rating of “Hold” and a consensus price target of $111.52.

About Medtronic

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic plc (NYSE:MDTGet Rating).

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.