Soltis Investment Advisors LLC Acquires 20,352 Shares of Medtronic plc (NYSE:MDT)

Soltis Investment Advisors LLC increased its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 30.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 88,110 shares of the medical technology company's stock after buying an additional 20,352 shares during the quarter. Medtronic accounts for about 0.8% of Soltis Investment Advisors LLC's holdings, making the stock its 28th biggest holding. Soltis Investment Advisors LLC's holdings in Medtronic were worth $7,933,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in shares of Medtronic during the third quarter worth $27,000. Darwin Wealth Management LLC bought a new stake in Medtronic during the 3rd quarter worth $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic in the 3rd quarter worth about $27,000. J. Stern & Co. LLP bought a new position in Medtronic in the third quarter valued at about $30,000. Finally, True Wealth Design LLC boosted its stake in shares of Medtronic by 1,793.3% during the third quarter. True Wealth Design LLC now owns 568 shares of the medical technology company's stock valued at $51,000 after purchasing an additional 538 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. UBS Group upgraded shares of Medtronic from a "sell" rating to a "neutral" rating and raised their price objective for the company from $76.00 to $90.00 in a report on Thursday, August 15th. Evercore ISI raised their price target on shares of Medtronic from $100.00 to $104.00 and gave the company an "outperform" rating in a research note on Tuesday, October 1st. Sanford C. Bernstein boosted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 20th. Stifel Nicolaus raised their target price on Medtronic from $85.00 to $87.00 and gave the stock a "hold" rating in a research report on Wednesday, August 21st. Finally, Citigroup upped their price target on Medtronic from $85.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic presently has an average rating of "Hold" and a consensus target price of $95.27.

Medtronic Trading Down 0.8 %

Shares of MDT stock traded down $0.64 during trading hours on Wednesday, hitting $82.94. 6,123,816 shares of the company were exchanged, compared to its average volume of 6,250,602. The company has a 50 day simple moving average of $88.00 and a two-hundred day simple moving average of $85.02. The firm has a market cap of $106.35 billion, a P/E ratio of 25.51, a P/E/G ratio of 2.38 and a beta of 0.82. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $8.27 billion. During the same period last year, the company posted $1.25 earnings per share. The business's quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts anticipate that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Friday, December 27th. Medtronic's dividend payout ratio (DPR) 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.