RPG Investment Advisory LLC Acquires 2,410 Shares of Medtronic plc (NYSE:MDT)

RPG Investment Advisory LLC boosted its holdings in Medtronic plc (NYSE:MDT) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,021 shares of the medical technology company’s stock after purchasing an additional 2,410 shares during the period. Medtronic comprises about 2.0% of RPG Investment Advisory LLC’s portfolio, making the stock its 16th largest holding. RPG Investment Advisory LLC’s holdings in Medtronic were worth $13,686,000 at the end of the most recent quarter.

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

Medtronic Stock Down 0.0 %

MDT stock opened at $88.25 on Wednesday. Medtronic plc has a twelve month low of $71.64 and a twelve month high of $92.68. The firm has a market capitalization of $113.18 billion, a PE ratio of 29.81, a PEG ratio of 2.52 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The stock has a 50-day simple moving average of $89.67 and a two-hundred day simple moving average of $84.57.

Medtronic (NYSE:MDT) last issued its quarterly earnings data 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 return on equity of 13.68% and a net margin of 12.06%. The company had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. During the same quarter last year, the business posted $1.20 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. On average, equities analysts predict that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business 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 annualized dividend and a dividend yield of 3.17%. Medtronic’s dividend payout ratio is currently 94.59%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MDT shares. Citigroup increased their price target on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Piper Sandler raised their target price on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Barclays lifted their target price on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Robert W. Baird lifted their target price on shares of Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Finally, Stifel Nicolaus lifted their target price on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $95.36.

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.