Medtronic plc (NYSE:MDT) Shares Bought by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 30.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,110 shares of the medical technology company’s stock after purchasing an additional 20,352 shares during the quarter. Medtronic comprises about 0.8% of Soltis Investment Advisors LLC’s investment portfolio, making the stock its 28th biggest position. Soltis Investment Advisors LLC’s holdings in Medtronic were worth $7,933,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Fortitude Family Office LLC purchased a new stake in Medtronic in the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic during the third quarter worth approximately $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic during the third quarter worth approximately $27,000. J. Stern & Co. LLP purchased a new position in Medtronic during the third quarter worth approximately $30,000. Finally, True Wealth Design LLC grew its stake in shares of Medtronic by 1,793.3% during the 3rd quarter. True Wealth Design LLC now owns 568 shares of the medical technology company’s stock valued at $51,000 after buying an additional 538 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MDT shares. Daiwa America raised Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. JPMorgan Chase & Co. dropped their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Wells Fargo & Company reduced their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Finally, UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $95.27.

Medtronic Stock Performance

Shares of MDT opened at $83.60 on Wednesday. The firm has a market cap of $107.20 billion, a price-to-earnings ratio of 25.57, a PEG 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 plc has a 52-week low of $75.96 and a 52-week high of $92.68.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 EPS. Analysts forecast that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.35%. The ex-dividend date is Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

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.