IHT Wealth Management LLC Has $2.44 Million Stock Holdings in Medtronic plc (NYSE:MDT)

IHT Wealth Management LLC increased its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 34.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,145 shares of the medical technology company's stock after acquiring an additional 6,917 shares during the quarter. IHT Wealth Management LLC's holdings in Medtronic were worth $2,444,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Fortitude Family Office LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic during the third quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in Medtronic in the 3rd quarter valued at about $27,000. J. Stern & Co. LLP acquired a new position in shares of Medtronic in the 3rd quarter valued at approximately $30,000. Finally, Gleason Group Inc. bought a new stake in shares of Medtronic during the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analyst Weigh In

MDT has been the subject of several research analyst reports. Citigroup boosted their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lowered their price target on Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a report on Friday, November 15th. Daiwa America raised Medtronic to a "strong-buy" rating in a research note on Friday, August 23rd. Robert W. Baird lowered their target price on Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a research note on Wednesday, November 20th. Finally, Sanford C. Bernstein increased their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Medtronic has an average rating of "Hold" and a consensus target price of $95.27.

Medtronic Trading Down 1.4 %

Shares of NYSE MDT traded down $1.18 during midday trading on Thursday, reaching $84.14. The stock had a trading volume of 6,830,583 shares, compared to its average volume of 6,268,996. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The company's 50 day moving average price is $88.35 and its 200 day moving average price is $85.00. The firm has a market cap of $107.89 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results 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. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion for the quarter, compared to analysts' expectations of $8.27 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. The business's quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.33%. Medtronic's dividend payout ratio (DPR) is presently 85.63%.

Medtronic 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.