Sanctuary Advisors LLC Boosts Stock Holdings in Medtronic plc (NYSE:MDT)

Sanctuary Advisors LLC increased its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 6.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 181,843 shares of the medical technology company's stock after acquiring an additional 11,651 shares during the period. Sanctuary Advisors LLC's holdings in Medtronic were worth $15,677,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Fortitude Family Office LLC bought a new position in Medtronic in the third quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic in the third quarter valued at about $27,000. Darwin Wealth Management LLC purchased a new stake in Medtronic in the third quarter worth about $27,000. J. Stern & Co. LLP bought a new position in Medtronic during the 3rd quarter worth about $30,000. Finally, Chelsea Counsel Co. purchased a new position in Medtronic during the 3rd quarter valued at about $45,000. Institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a research note on Friday, November 15th. Evercore ISI lifted their price target on Medtronic from $100.00 to $104.00 and gave the company an "outperform" rating in a report on Tuesday, October 1st. Truist Financial upped their price objective on Medtronic from $90.00 to $93.00 and gave the stock a "hold" rating in a research note on Monday, October 14th. Daiwa America upgraded Medtronic to a "strong-buy" rating in a research note on Friday, August 23rd. Finally, Sanford C. Bernstein raised their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $95.27.

Medtronic Stock Performance

MDT stock traded down $0.25 during midday trading on Friday, reaching $82.48. The stock had a trading volume of 4,301,567 shares, compared to its average volume of 6,239,336. The firm has a fifty day simple moving average of $87.66 and a two-hundred day simple moving average of $84.99. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. 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 stock has a market cap of $105.76 billion, a PE ratio of 25.22, a P/E/G ratio of 2.35 and a beta of 0.82.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. Medtronic's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 EPS. As a group, equities research analysts anticipate that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.39%. The ex-dividend date is Friday, December 27th. 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.