JB Capital LLC Has $9.95 Million Stock Holdings in Medtronic plc (NYSE:MDT)

JB Capital LLC lifted its stake in shares of Medtronic plc (NYSE:MDT) by 4.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 110,496 shares of the medical technology company’s stock after buying an additional 5,083 shares during the period. JB Capital LLC’s holdings in Medtronic were worth $9,948,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MDT. Fortitude Family Office LLC acquired a new stake in Medtronic during the third quarter worth about $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic during the 3rd quarter worth approximately $27,000. Lynx Investment Advisory acquired a new stake in shares of Medtronic during the 2nd quarter worth approximately $28,000. Gleason Group Inc. bought a new position in Medtronic in the second quarter valued at approximately $42,000. Finally, Opal Wealth Advisors LLC acquired a new position in Medtronic during the second quarter valued at approximately $43,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Piper Sandler boosted their price target on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Citigroup raised their price target on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Stifel Nicolaus upped their price objective 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. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. Finally, Evercore ISI upped their price target on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $95.36.

Medtronic Trading Down 2.6 %

Shares of Medtronic stock traded down $2.30 during midday trading on Thursday, reaching $87.81. The company had a trading volume of 914,395 shares, compared to its average volume of 6,165,485. The firm has a market cap of $112.61 billion, a PE ratio of 30.44, a P/E/G ratio of 2.55 and a beta of 0.84. The stock has a fifty day moving average price of $89.69 and a 200 day moving average price of $84.38. 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 fifty-two week low of $69.32 and a fifty-two week high of $92.68.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. During the same quarter in the previous year, the company earned $1.20 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.19%. Medtronic’s payout ratio is currently 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.