Drucker Wealth 3.0 LLC Acquires 827 Shares of Medtronic plc (NYSE:MDT)

Drucker Wealth 3.0 LLC increased its holdings in shares of Medtronic plc (NYSE:MDT) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,352 shares of the medical technology company’s stock after buying an additional 827 shares during the period. Drucker Wealth 3.0 LLC’s holdings in Medtronic were worth $4,263,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MDT. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the 3rd quarter valued at $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic during the third quarter worth $27,000. Darwin Wealth Management LLC bought a new stake in Medtronic in the third quarter valued at about $27,000. J. Stern & Co. LLP bought a new stake in Medtronic in the third quarter valued at about $30,000. Finally, True Wealth Design LLC lifted its stake in Medtronic by 1,793.3% in the third quarter. True Wealth Design LLC now owns 568 shares of the medical technology company’s stock valued at $51,000 after buying an additional 538 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Down 0.2 %

NYSE MDT opened at $84.01 on Monday. The stock has a market capitalization of $107.73 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 2.38 and a beta of 0.82. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The stock’s 50 day moving average price is $88.25 and its two-hundred day moving average price is $84.99. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, analysts anticipate 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 $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MDT. Wells Fargo & Company decreased their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Truist Financial upped their target price on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Stifel Nicolaus lifted their price target on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $95.27.

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.