Medtronic plc (NYSE:MDT) Shares Bought by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. raised its position in Medtronic plc (NYSE:MDT) by 32.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,040 shares of the medical technology company’s stock after purchasing an additional 4,451 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Medtronic were worth $1,420,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MDT. Norges Bank acquired a new position in Medtronic in the 4th quarter valued at about $1,229,726,000. M&G Plc acquired a new position in Medtronic in the 1st quarter valued at about $259,160,000. Capital Research Global Investors boosted its holdings in Medtronic by 7.1% in the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after purchasing an additional 2,044,109 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in Medtronic by 30.9% in the 4th quarter. Pzena Investment Management LLC now owns 7,500,562 shares of the medical technology company’s stock valued at $617,896,000 after purchasing an additional 1,769,985 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Medtronic by 145.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,372,641 shares of the medical technology company’s stock valued at $195,431,000 after purchasing an additional 1,405,978 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of NYSE:MDT opened at $90.00 on Friday. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $91.49. The company’s 50 day moving average is $83.60 and its two-hundred day moving average is $82.80. 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 cap of $115.42 billion, a PE ratio of 32.73, a P/E/G ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating 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 company had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. During the same period in the prior year, the firm posted $1.20 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Friday, September 27th. Medtronic’s dividend payout ratio is presently 101.82%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Oppenheimer upped 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. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Tuesday, August 20th. Truist Financial upped their price objective on shares of Medtronic from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Wells Fargo & Company upped their price objective on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Medtronic presently has a consensus rating of “Hold” and an average price target of $92.92.

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.