Financial Partners Group LLC Buys 1,205 Shares of Medtronic plc (NYSE:MDT)

Financial Partners Group LLC grew its stake in Medtronic plc (NYSE:MDT) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,527 shares of the medical technology company’s stock after buying an additional 1,205 shares during the period. Medtronic makes up about 1.5% of Financial Partners Group LLC’s holdings, making the stock its 21st biggest holding. Financial Partners Group LLC’s holdings in Medtronic were worth $4,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Lynx Investment Advisory purchased a new position in shares of Medtronic during the 2nd quarter valued at about $28,000. Tributary Capital Management LLC bought a new position in Medtronic during the first quarter valued at approximately $33,000. Gleason Group Inc. purchased a new position in shares of Medtronic during the second quarter worth approximately $42,000. Opal Wealth Advisors LLC bought a new stake in shares of Medtronic in the 2nd quarter worth approximately $43,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Medtronic in the 2nd quarter valued at $45,000. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of recent research reports. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. Daiwa America raised Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Stifel Nicolaus lifted their target price on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Finally, Truist Financial increased their price target on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $95.36.

Medtronic Trading Down 1.4 %

Shares of MDT opened at $90.99 on Friday. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $92.68. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The firm’s 50-day moving average price is $89.04 and its 200-day moving average price is $83.74. The firm has a market capitalization of $116.67 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.53 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its quarterly earnings data 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 return on equity of 13.68% and a net margin of 12.06%. The business had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. During the same period in the previous year, the firm posted $1.20 EPS. The business’s revenue was up 3.4% on a year-over-year basis. Sell-side analysts anticipate that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.08%. Medtronic’s dividend payout ratio (DPR) is 101.82%.

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.