Medtronic plc (NYSE:MDT) Stake Boosted by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI increased its position in shares of Medtronic plc (NYSE:MDT) by 120.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,049 shares of the medical technology company’s stock after purchasing an additional 6,041 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Medtronic were worth $995,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MDT. Lynx Investment Advisory acquired a new stake in Medtronic in the second quarter worth $28,000. Tributary Capital Management LLC acquired a new position in shares of Medtronic during the first quarter valued at $33,000. Gleason Group Inc. acquired a new position in shares of Medtronic during the second quarter valued at $42,000. Opal Wealth Advisors LLC acquired a new position in shares of Medtronic during the second quarter valued at $43,000. Finally, Olistico Wealth LLC acquired a new position in shares of Medtronic during the second quarter valued at $45,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Up 1.3 %

Shares of Medtronic stock opened at $92.27 on Thursday. The firm has a market cap of $118.32 billion, a price-to-earnings ratio of 33.55, a P/E/G ratio of 2.53 and a beta of 0.84. 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 52-week low of $68.84 and a 52-week high of $92.39. The stock has a 50-day simple moving average of $89.04 and a 200-day simple moving average of $83.74.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Friday, September 27th. Medtronic’s payout ratio is 101.82%.

Analysts Set New Price Targets

MDT has been the topic of a number of research analyst reports. Barclays raised their price target on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Wells Fargo & Company lifted their target price on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Truist Financial lifted their target price on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, October 14th. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Finally, Evercore ISI lifted their target price on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $95.36.

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.