Medtronic plc (NYSE:MDT) Shares Purchased by Klein Pavlis & Peasley Financial Inc.

Klein Pavlis & Peasley Financial Inc. grew its stake in Medtronic plc (NYSE:MDT - Free Report) by 57.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,124 shares of the medical technology company's stock after buying an additional 9,168 shares during the quarter. Medtronic makes up 1.8% of Klein Pavlis & Peasley Financial Inc.'s portfolio, making the stock its 18th biggest holding. Klein Pavlis & Peasley Financial Inc.'s holdings in Medtronic were worth $2,262,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MDT. Lynx Investment Advisory bought a new position in shares of Medtronic during the second quarter worth $28,000. Tributary Capital Management LLC bought a new position in shares of Medtronic during the 1st quarter valued at about $33,000. Gleason Group Inc. purchased a new position in shares of Medtronic during the second quarter valued at about $42,000. Opal Wealth Advisors LLC purchased a new position in Medtronic during the 2nd quarter valued at approximately $43,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Medtronic during the 2nd quarter worth approximately $45,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Up 0.0 %

Shares of NYSE:MDT traded up $0.01 during trading on Monday, reaching $90.60. The stock had a trading volume of 3,297,880 shares, compared to its average volume of 6,205,972. 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 market capitalization of $116.17 billion, a P/E ratio of 32.94, a PEG ratio of 2.60 and a beta of 0.84. The firm's 50-day simple moving average is $89.30 and its 200 day simple moving average is $83.85. Medtronic plc has a one year low of $68.84 and a one year high of $92.68.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. During the same quarter in the prior year, the business posted $1.20 EPS. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, research analysts expect that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic's dividend payout ratio is presently 101.82%.

Analyst Ratings Changes

MDT has been the subject of several research reports. Daiwa America upgraded shares of Medtronic to a "strong-buy" rating in a research report on Friday, August 23rd. Citigroup boosted their price objective on Medtronic from $85.00 to $92.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 1st. Evercore ISI boosted their target price on Medtronic from $100.00 to $104.00 and gave the company an "outperform" rating in a research report on Tuesday, October 1st. Robert W. Baird raised their price target on Medtronic from $82.00 to $90.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company increased their target price on shares of Medtronic from $105.00 to $106.00 and gave the company an "overweight" rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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.