Evolution Wealth Advisors LLC grew its stake in shares of Medtronic plc (NYSE:MDT) by 202.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 824 shares of the medical technology company’s stock after buying an additional 552 shares during the period. Evolution Wealth Advisors LLC’s holdings in Medtronic were worth $86,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Balyasny Asset Management LLC boosted its holdings in Medtronic by 31.4% during the second quarter. Balyasny Asset Management LLC now owns 282,590 shares of the medical technology company’s stock worth $25,914,000 after buying an additional 67,577 shares during the last quarter. Donaldson Capital Management LLC raised its position in shares of Medtronic by 1.2% during the second quarter. Donaldson Capital Management LLC now owns 307,198 shares of the medical technology company’s stock worth $28,170,000 after purchasing an additional 3,523 shares during the period. Brookstone Capital Management raised its position in shares of Medtronic by 9.7% during the second quarter. Brookstone Capital Management now owns 3,225 shares of the medical technology company’s stock worth $296,000 after purchasing an additional 285 shares during the period. APG Asset Management N.V. raised its position in shares of Medtronic by 118.0% during the first quarter. APG Asset Management N.V. now owns 2,101,865 shares of the medical technology company’s stock worth $189,546,000 after purchasing an additional 1,137,886 shares during the period. Finally, Cornerstone Wealth Management LLC raised its position in shares of Medtronic by 10.5% during the third quarter. Cornerstone Wealth Management LLC now owns 4,698 shares of the medical technology company’s stock worth $488,000 after purchasing an additional 447 shares during the period. Hedge funds and other institutional investors own 79.90% of the company’s stock.
Shares of NYSE MDT opened at $110.13 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.53 and a debt-to-equity ratio of 0.45. Medtronic plc has a 12 month low of $72.13 and a 12 month high of $122.15. The stock has a 50 day moving average of $105.71 and a 200-day moving average of $98.59. The company has a market capitalization of $148.04 billion, a P/E ratio of 33.68, a P/E/G ratio of 3.56 and a beta of 0.67.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 25th. The medical technology company reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.41. The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $5.48 billion. Medtronic had a return on equity of 10.47% and a net margin of 15.80%. The firm’s quarterly revenue was down 13.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 EPS. Analysts predict that Medtronic plc will post 3.94 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were given a dividend of $0.58 per share. The ex-dividend date was Thursday, September 24th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.11%. Medtronic’s payout ratio is 50.54%.
In other news, Chairman Omar Ishrak sold 763 shares of the business’s stock in a transaction on Friday, October 9th. The stock was sold at an average price of $108.40, for a total transaction of $82,709.20. Following the completion of the transaction, the chairman now owns 561,032 shares of the company’s stock, valued at approximately $60,815,868.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Bradley E. Lerman sold 20,714 shares of the business’s stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $110.00, for a total value of $2,278,540.00. Following the transaction, the senior vice president now directly owns 74,242 shares of the company’s stock, valued at approximately $8,166,620. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,326 shares of company stock valued at $4,441,498. Corporate insiders own 0.52% of the company’s stock.
A number of equities research analysts have recently commented on the company. Sanford C. Bernstein raised Medtronic from a “market perform” rating to an “outperform” rating in a research report on Thursday, October 8th. Wolfe Research initiated coverage on Medtronic in a research report on Friday, September 11th. They issued a “peer perform” rating and a $115.00 target price on the stock. Needham & Company LLC lifted their target price on Medtronic from $113.00 to $124.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. Piper Sandler reissued a “buy” rating and issued a $120.00 target price on shares of Medtronic in a research report on Tuesday, August 11th. Finally, Citigroup lifted their target price on Medtronic from $108.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, August 26th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $116.69.
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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