Medtronic plc (NYSE:MDT) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI raised its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 18.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 315,790 shares of the medical technology company's stock after purchasing an additional 49,081 shares during the period. National Bank of Canada FI's holdings in Medtronic were worth $28,430,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Fortitude Family Office LLC bought a new position in Medtronic in the 3rd quarter worth $27,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic in the third quarter worth about $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic during the 3rd quarter valued at about $27,000. J. Stern & Co. LLP bought a new position in shares of Medtronic during the 3rd quarter valued at approximately $30,000. Finally, True Wealth Design LLC raised its stake in Medtronic by 1,793.3% during the 3rd quarter. True Wealth Design LLC now owns 568 shares of the medical technology company's stock worth $51,000 after acquiring an additional 538 shares during the period. Institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MDT shares. Daiwa America upgraded Medtronic to a "strong-buy" rating in a report on Friday, August 23rd. Royal Bank of Canada upgraded shares of Medtronic from a "sector perform" rating to an "outperform" rating and upped their target price for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Wells Fargo & Company dropped their price target on Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday, November 20th. Citigroup raised their price objective on Medtronic from $85.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday, October 1st. Finally, Sanford C. Bernstein increased their price target on Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a report on Wednesday, November 20th. One 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of "Hold" and an average price target of $95.27.

Medtronic Stock Down 0.1 %

MDT stock traded down $0.05 during midday trading on Monday, hitting $83.96. The company's stock had a trading volume of 5,015,022 shares, compared to its average volume of 6,256,011. The firm has a 50-day simple moving average of $88.13 and a 200-day simple moving average of $85.01. The firm has a market capitalization of $107.66 billion, a P/E ratio of 25.68, a PEG ratio of 2.38 and a beta of 0.82. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

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

Medtronic Dividend Announcement

The company 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 dividend of $0.70 per share. 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 3.33%. Medtronic's payout ratio is 85.63%.

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.