Medtronic plc (NYSE:MDT) Shares Purchased by Continuum Advisory LLC

Continuum Advisory LLC grew its position in Medtronic plc (NYSE:MDT) by 6.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,224 shares of the medical technology company’s stock after buying an additional 351 shares during the period. Continuum Advisory LLC’s holdings in Medtronic were worth $535,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in MDT. Olstein Capital Management L.P. grew its holdings in Medtronic by 19.2% in the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock worth $7,833,000 after buying an additional 14,000 shares in the last quarter. Ferguson Wellman Capital Management Inc. bought a new position in shares of Medtronic in the third quarter worth $9,486,000. Y Intercept Hong Kong Ltd increased its holdings in shares of Medtronic by 322.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock valued at $6,626,000 after purchasing an additional 56,178 shares during the period. Harvest Portfolios Group Inc. raised its stake in shares of Medtronic by 6.5% during the third quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company’s stock valued at $62,042,000 after purchasing an additional 42,112 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Medtronic by 6.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 368,682 shares of the medical technology company’s stock worth $29,019,000 after purchasing an additional 21,995 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Down 0.4 %

Shares of MDT stock opened at $83.60 on Wednesday. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The company has a market cap of $107.20 billion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 2.38 and a beta of 0.82. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $88.13 and its two-hundred day moving average is $85.01.

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

Medtronic Announces Dividend

The firm also recently announced 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 3.35%. The ex-dividend date of this dividend is Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is currently 85.63%.

Analysts Set New Price Targets

Several research firms have commented on MDT. Robert W. Baird lowered their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. JPMorgan Chase & Co. dropped their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Stifel Nicolaus boosted their price objective on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Finally, Barclays raised their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and a consensus price target of $95.27.

About Medtronic

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.