Code Waechter LLC Purchases Shares of 5,642 Medtronic plc (NYSE:MDT)

by · The Markets Daily

Code Waechter LLC acquired a new position in shares of Medtronic plc (NYSE:MDT – Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 5,642 shares of the medical technology company’s stock, valued at approximately $508,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. First PREMIER Bank boosted its stake in shares of Medtronic by 1.8% during the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after acquiring an additional 116 shares during the last quarter. Quent Capital LLC grew its holdings in shares of Medtronic by 8.0% during the first quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock worth $146,000 after buying an additional 125 shares in the last quarter. Abbrea Capital LLC raised its position in shares of Medtronic by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock valued at $446,000 after buying an additional 125 shares during the last quarter. Waterway Wealth Management LLC lifted its stake in shares of Medtronic by 4.8% during the second quarter. Waterway Wealth Management LLC now owns 2,759 shares of the medical technology company’s stock valued at $217,000 after buying an additional 126 shares during the period. Finally, Americana Partners LLC boosted its position in Medtronic by 2.0% during the second quarter. Americana Partners LLC now owns 6,667 shares of the medical technology company’s stock worth $525,000 after acquiring an additional 128 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MDT shares. Evercore ISI increased their price target on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and raised their price target for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. Citigroup upped their price objective 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. 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 report on Wednesday, August 21st. Finally, Truist Financial upped their price target on shares of Medtronic from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Medtronic has an average rating of “Hold” and a consensus price target of $95.14.

Check Out Our Latest Research Report on Medtronic

Medtronic Stock Up 0.6 %

Medtronic stock traded up $0.51 during midday trading on Friday, hitting $89.36. 4,482,912 shares of the company were exchanged, compared to its average volume of 6,290,060. The company has a market cap of $114.58 billion, a PE ratio of 32.49, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.49. The company’s fifty day moving average price is $87.54 and its 200-day moving average price is $83.46. 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 (NYSE:MDT – Get Free Report) last announced its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $7.90 billion. During the same period in the prior year, the firm earned $1.20 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, research analysts predict that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is currently 101.82%.

About Medtronic

(Free Report)

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.

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