Wilmington Savings Fund Society FSB Purchases 60,016 Shares of Medtronic plc (NYSE:MDT)

Wilmington Savings Fund Society FSB lifted its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 449.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,373 shares of the medical technology company's stock after acquiring an additional 60,016 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in Medtronic were worth $6,606,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Clear Harbor Asset Management LLC lifted its position in Medtronic by 1.2% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company's stock worth $861,000 after acquiring an additional 111 shares during the period. Guardian Wealth Management Inc. lifted its position in Medtronic by 0.9% during the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company's stock worth $1,182,000 after acquiring an additional 115 shares during the period. First PREMIER Bank raised its stake in shares of Medtronic by 1.8% during the 3rd quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company's stock valued at $577,000 after buying an additional 116 shares during the last quarter. First City Capital Management Inc. raised its stake in shares of Medtronic by 2.9% during the 3rd quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company's stock valued at $371,000 after buying an additional 116 shares during the last quarter. Finally, Hardy Reed LLC raised its stake in shares of Medtronic by 4.4% during the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company's stock valued at $247,000 after buying an additional 116 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Performance

Shares of NYSE MDT traded down $0.21 during midday trading on Friday, hitting $82.52. The company's stock had a trading volume of 2,231,416 shares, compared to its average volume of 6,230,321. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68. The firm's fifty day moving average price is $87.77 and its 200-day moving average price is $84.99. 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 $105.81 billion, a P/E ratio of 25.17, a P/E/G ratio of 2.35 and a beta of 0.82.

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, beating the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 EPS. On average, sell-side analysts forecast that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.39%. Medtronic's payout ratio is 85.63%.

Analyst Upgrades and Downgrades

MDT has been the topic of several research analyst reports. Truist Financial lifted their price objective on Medtronic from $90.00 to $93.00 and gave the stock a "hold" rating in a report on Monday, October 14th. Daiwa America upgraded Medtronic to a "strong-buy" rating in a report on Friday, August 23rd. Stifel Nicolaus upped their price objective on Medtronic from $85.00 to $87.00 and gave the company a "hold" rating in a report on Wednesday, August 21st. Citigroup boosted their target price on Medtronic from $85.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday, October 1st. Finally, Robert W. Baird cut their target price on Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $95.27.

Medtronic Company 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.