National Bank of Canada FI Has $28.43 Million Holdings in Medtronic plc (NYSE:MDT)

National Bank of Canada FI boosted its position in shares of Medtronic plc (NYSE:MDT) by 18.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 315,790 shares of the medical technology company’s stock after purchasing an additional 49,081 shares during the period. National Bank of Canada FI’s holdings in Medtronic were worth $28,430,000 at the end of the most recent reporting period.

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

Medtronic Stock Down 0.2 %

Medtronic stock opened at $84.01 on Monday. The company’s 50-day moving average price is $88.25 and its two-hundred day moving average price is $84.99. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The stock has a market cap of $107.73 billion, a P/E ratio of 25.69, a P/E/G ratio of 2.38 and a beta of 0.82. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 earnings per share. As a group, analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be given a $0.70 dividend. The ex-dividend date is Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.33%. Medtronic’s payout ratio is presently 85.63%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Sanford C. Bernstein upped their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Evercore ISI raised their target price on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Stifel Nicolaus upped 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. One equities research 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $95.27.

Medtronic 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.