Keystone Financial Services Boosts Holdings in Medtronic plc (NYSE:MDT)

Keystone Financial Services grew its position in Medtronic plc (NYSE:MDT) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,136 shares of the medical technology company’s stock after buying an additional 492 shares during the period. Keystone Financial Services’ holdings in Medtronic were worth $552,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MDT. Fortitude Family Office LLC purchased a new stake in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Lynx Investment Advisory purchased a new stake in shares of Medtronic in the 2nd quarter valued at approximately $28,000. Gleason Group Inc. purchased a new stake in shares of Medtronic in the 2nd quarter valued at approximately $42,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Medtronic during the 2nd quarter worth approximately $43,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the subject of a number of research analyst reports. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. Truist Financial increased their price objective on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Barclays increased their price objective on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Oppenheimer increased their price objective 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $95.36.

Medtronic Price Performance

Shares of MDT opened at $88.27 on Tuesday. Medtronic plc has a twelve month low of $71.64 and a twelve month high of $92.68. The firm’s fifty day simple moving average is $89.68 and its 200-day simple moving average is $84.51. The firm has a market capitalization of $113.20 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 2.51 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. During the same period last year, the business earned $1.20 EPS. The company’s revenue was up 3.4% on a year-over-year basis. Equities analysts forecast that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.70 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.17%. Medtronic’s payout ratio is 94.59%.

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.