Thurston Springer Miller Herd & Titak Inc. Boosts Stake in Medtronic plc (NYSE:MDT)

Thurston Springer Miller Herd & Titak Inc. increased its holdings in Medtronic plc (NYSE:MDT) by 18.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 12,179 shares of the medical technology company’s stock after buying an additional 1,903 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Medtronic were worth $1,096,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MDT. Scarborough Advisors LLC purchased a new position in shares of Medtronic during the fourth quarter valued at approximately $62,000. Syon Capital LLC purchased a new stake in Medtronic during the 4th quarter valued at $562,000. Northwest Bank & Trust Co bought a new position in shares of Medtronic during the 4th quarter valued at $103,000. Fortis Group Advisors LLC boosted its stake in shares of Medtronic by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock worth $38,000 after buying an additional 230 shares during the last quarter. Finally, Greenwood Capital Associates LLC boosted its stake in shares of Medtronic by 4.8% in the 4th quarter. Greenwood Capital Associates LLC now owns 17,446 shares of the medical technology company’s stock worth $1,437,000 after buying an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MDT. Robert W. Baird increased their target price on Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and boosted their target price for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Tuesday, August 20th. Finally, Oppenheimer lifted their price target on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $95.14.

Medtronic Trading Up 0.6 %

MDT stock opened at $89.36 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $91.49. The business has a 50 day simple moving average of $87.54 and a two-hundred day simple moving average of $83.44. The company has a market capitalization of $114.58 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 2.53 and a beta of 0.84.

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

Medtronic Dividend Announcement

The company also recently announced 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 of this dividend was Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.13%. Medtronic’s dividend payout ratio (DPR) is 101.82%.

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.