Y Intercept Hong Kong Ltd Has $6.63 Million Stock Position in Medtronic plc (NYSE:MDT)

Y Intercept Hong Kong Ltd boosted its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 322.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,593 shares of the medical technology company's stock after purchasing an additional 56,178 shares during the quarter. Medtronic comprises approximately 0.4% of Y Intercept Hong Kong Ltd's investment portfolio, making the stock its 26th biggest position. Y Intercept Hong Kong Ltd's holdings in Medtronic were worth $6,626,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Olstein Capital Management L.P. raised its holdings in Medtronic by 19.2% in the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company's stock valued at $7,833,000 after acquiring an additional 14,000 shares during the period. Ferguson Wellman Capital Management Inc. bought a new position in shares of Medtronic during the third quarter worth approximately $9,486,000. Harvest Portfolios Group Inc. lifted its holdings in Medtronic by 6.5% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company's stock worth $62,042,000 after purchasing an additional 42,112 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Medtronic by 6.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 368,682 shares of the medical technology company's stock valued at $29,019,000 after purchasing an additional 21,995 shares during the period. Finally, Arkadios Wealth Advisors grew its holdings in Medtronic by 22.6% in the 3rd quarter. Arkadios Wealth Advisors now owns 60,725 shares of the medical technology company's stock valued at $5,467,000 after buying an additional 11,178 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MDT shares. Royal Bank of Canada raised Medtronic from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Oppenheimer boosted their price objective on shares of Medtronic from $92.00 to $94.00 and gave the company a "market perform" rating in a report on Wednesday, August 21st. Evercore ISI boosted their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an "outperform" rating in a report on Tuesday, October 1st. Robert W. Baird cut their price objective on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a report on Wednesday, November 20th. Finally, Citigroup boosted their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $95.27.

Medtronic Price Performance

Shares of Medtronic stock traded down $0.05 on Monday, reaching $83.96. 5,015,022 shares of the stock were exchanged, compared to its average volume of 6,256,011. The firm's 50 day moving average is $88.13 and its 200-day moving average is $85.01. Medtronic plc has a one year low of $75.96 and a one year 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 firm has a market cap of $107.66 billion, a PE ratio of 25.68, a P/E/G ratio of 2.38 and a beta of 0.82.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion during 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 quarter in the prior year, the firm earned $1.25 EPS. As a group, analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors 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%. The ex-dividend date is Friday, December 27th. Medtronic's payout ratio is 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.