Peloton Wealth Strategists Has $956,000 Position in Medtronic plc (NYSE:MDT)

Peloton Wealth Strategists decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 11.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,620 shares of the medical technology company’s stock after selling 1,315 shares during the quarter. Peloton Wealth Strategists’ holdings in Medtronic were worth $956,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Fortitude Family Office LLC purchased a new position in Medtronic during the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic during the third quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic during the third quarter valued at approximately $27,000. J. Stern & Co. LLP acquired a new position in Medtronic in the 3rd quarter valued at approximately $30,000. Finally, True Wealth Design LLC lifted its position in Medtronic by 1,793.3% in 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. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Down 0.2 %

Medtronic stock opened at $84.01 on Monday. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The firm has a market capitalization of $107.73 billion, a PE ratio of 25.69, a PEG ratio of 2.38 and a beta of 0.82. The business’s 50-day simple moving average is $88.25 and its 200-day simple moving average is $84.99.

Medtronic (NYSE:MDT) last issued its quarterly 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 return on equity of 13.79% and a net margin of 13.00%. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the business posted $1.25 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts forecast that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

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

Analyst Upgrades and Downgrades

MDT has been the topic of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Piper Sandler upped their target price on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Daiwa America upgraded Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Wells Fargo & Company cut their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Finally, Oppenheimer lifted their target price on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given 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 a consensus target price of $95.27.

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.