Trilogy Capital Inc. Grows Holdings in Medtronic plc (NYSE:MDT)

Trilogy Capital Inc. raised its position in Medtronic plc (NYSE:MDT) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,082 shares of the medical technology company’s stock after buying an additional 192 shares during the period. Trilogy Capital Inc.’s holdings in Medtronic were worth $368,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Gilliland Jeter Wealth Management LLC grew its holdings in shares of Medtronic by 11,939.3% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 3,371 shares of the medical technology company’s stock valued at $303,000 after acquiring an additional 3,343 shares in the last quarter. Godsey & Gibb Inc. grew its stake in Medtronic by 9.7% in the 3rd quarter. Godsey & Gibb Inc. now owns 228,361 shares of the medical technology company’s stock valued at $20,559,000 after purchasing an additional 20,216 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Medtronic by 13.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,042,505 shares of the medical technology company’s stock valued at $93,857,000 after purchasing an additional 124,585 shares during the last quarter. Vest Financial LLC raised its stake in shares of Medtronic by 11.1% during the 3rd quarter. Vest Financial LLC now owns 612,803 shares of the medical technology company’s stock worth $55,171,000 after purchasing an additional 61,281 shares during the period. Finally, Buckley Wealth Management LLC raised its stake in shares of Medtronic by 2.2% during the 3rd quarter. Buckley Wealth Management LLC now owns 9,683 shares of the medical technology company’s stock worth $872,000 after purchasing an additional 206 shares during the period. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Oppenheimer raised their price objective on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Barclays raised their price target on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Truist Financial upped their price objective on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Piper Sandler boosted their target price on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Finally, Daiwa America upgraded Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. One equities research 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, the stock presently has an average rating of “Hold” and an average price target of $95.36.

Medtronic Trading Down 1.3 %

Shares of MDT opened at $91.05 on Tuesday. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $92.25. The stock has a market cap of $116.75 billion, a PE ratio of 33.11, a P/E/G ratio of 2.53 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The business’s 50-day moving average price is $88.65 and its 200-day moving average price is $83.63.

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

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.08%. The ex-dividend date was Friday, September 27th. Medtronic’s dividend payout ratio is 101.82%.

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.