Westshore Wealth LLC increased its holdings in shares of Medtronic plc (NYSE:MDT – Get Rating) by 22.9% in the second quarter, Holdings Channel reports. The firm owned 2,481 shares of the medical technology company’s stock after buying an additional 462 shares during the quarter. Westshore Wealth LLC’s holdings in Medtronic were worth $223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently bought and sold shares of the company. Landmark Wealth Management LLC purchased a new position in Medtronic during the 1st quarter worth $25,000. Kenfarb & CO. purchased a new position in Medtronic during the 4th quarter worth $29,000. Syverson Strege & Co purchased a new position in Medtronic during the 1st quarter worth $29,000. Byrne Asset Management LLC purchased a new position in Medtronic during the 4th quarter worth $34,000. Finally, Mascoma Wealth Management LLC raised its position in Medtronic by 41.7% during the 1st quarter. Mascoma Wealth Management LLC now owns 394 shares of the medical technology company’s stock worth $44,000 after buying an additional 116 shares during the last quarter. Institutional investors and hedge funds own 79.81% of the company’s stock.
Analysts Set New Price Targets
MDT has been the subject of a number of research analyst reports. Royal Bank of Canada cut their price target on shares of Medtronic from $122.00 to $110.00 in a report on Wednesday, September 7th. Raymond James downgraded shares of Medtronic from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 24th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Medtronic from $149.00 to $121.00 in a report on Friday, May 27th. Truist Financial cut their price target on shares of Medtronic from $111.00 to $97.00 and set a “hold” rating for the company in a report on Wednesday, July 20th. Finally, Needham & Company LLC downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a report on Friday, May 27th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and an average price target of $111.52.
Medtronic Trading Down 1.4 %
Medtronic (NYSE:MDT – Get Rating) last posted its quarterly earnings results on Tuesday, August 23rd. The medical technology company reported $1.13 EPS for the quarter, beating the consensus estimate of $1.12 by $0.01. Medtronic had a net margin of 16.75% and a return on equity of 13.64%. During the same period last year, the business earned $1.41 EPS. Sell-side analysts forecast that Medtronic plc will post 5.53 earnings per share for the current year.
Medtronic Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 23rd will be issued a $0.68 dividend. The ex-dividend date is Thursday, September 22nd. This represents a $2.72 annualized dividend and a yield of 3.30%. Medtronic’s payout ratio is 70.28%.
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.
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