Arkadios Wealth Advisors Grows Stock Holdings in Medtronic plc (NYSE:MDT)

Arkadios Wealth Advisors boosted its stake in Medtronic plc (NYSE:MDT - Free Report) by 22.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,725 shares of the medical technology company's stock after acquiring an additional 11,178 shares during the period. Arkadios Wealth Advisors' holdings in Medtronic were worth $5,467,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MDT. Lynx Investment Advisory purchased a new stake in Medtronic in the 2nd quarter valued at $28,000. Tributary Capital Management LLC purchased a new stake in shares of Medtronic in the first quarter valued at about $33,000. Gleason Group Inc. acquired a new stake in shares of Medtronic during the second quarter worth about $42,000. Opal Wealth Advisors LLC purchased a new position in shares of Medtronic during the second quarter worth about $43,000. Finally, Olistico Wealth LLC purchased a new position in shares of Medtronic during the second quarter worth about $45,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Price Performance

Shares of NYSE:MDT traded down $0.40 during trading on Friday, hitting $90.59. 3,446,977 shares of the stock were exchanged, compared to its average volume of 6,215,464. The company has a market cap of $116.18 billion, a PE ratio of 30.60, a P/E/G ratio of 2.60 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The company has a fifty day moving average price of $89.30 and a two-hundred day moving average price of $83.84. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $92.68.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.03. The business had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The business's revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 EPS. On average, analysts forecast that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.09%. Medtronic's dividend payout ratio (DPR) is 94.59%.

Analyst Ratings Changes

MDT has been the subject of a number of recent research reports. Truist Financial increased their price objective on Medtronic from $90.00 to $93.00 and gave the stock a "hold" rating in a research report on Monday, October 14th. UBS Group raised Medtronic from a "sell" rating to a "neutral" rating and increased their price target for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Barclays boosted their price objective on shares of Medtronic from $104.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, August 22nd. Stifel Nicolaus raised their target price on shares of Medtronic from $85.00 to $87.00 and gave the stock a "hold" rating in a research note on Wednesday, August 21st. Finally, Evercore ISI increased their price target on shares of Medtronic from $100.00 to $104.00 and gave the stock an "outperform" rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have given 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.com, Medtronic has an average rating of "Hold" and an average target price of $95.36.

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.