Financial & Tax Architects LLC Has $5.68 Million Stake in Medtronic plc (NYSE:MDT)

Financial & Tax Architects LLC grew its position in shares of Medtronic plc (NYSE:MDT) by 6.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,138 shares of the medical technology company’s stock after buying an additional 4,607 shares during the quarter. Medtronic makes up about 1.5% of Financial & Tax Architects LLC’s investment portfolio, making the stock its 28th largest holding. Financial & Tax Architects LLC’s holdings in Medtronic were worth $5,678,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Boyar Asset Management Inc. increased its stake in shares of Medtronic by 2.6% in the 4th quarter. Boyar Asset Management Inc. now owns 4,655 shares of the medical technology company’s stock valued at $383,000 after acquiring an additional 120 shares during the last quarter. Quent Capital LLC increased its stake in shares of Medtronic by 8.0% in the 1st quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock valued at $146,000 after acquiring an additional 125 shares during the last quarter. Abbrea Capital LLC increased its stake in shares of Medtronic by 2.5% in the 1st quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock valued at $446,000 after acquiring an additional 125 shares during the last quarter. Waterway Wealth Management LLC increased its stake in shares of Medtronic by 4.8% in the 2nd quarter. Waterway Wealth Management LLC now owns 2,759 shares of the medical technology company’s stock valued at $217,000 after acquiring an additional 126 shares during the last quarter. Finally, Angeles Investment Advisors LLC increased its stake in shares of Medtronic by 1.0% in the 4th quarter. Angeles Investment Advisors LLC now owns 12,627 shares of the medical technology company’s stock valued at $1,046,000 after acquiring an additional 128 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MDT shares. Barclays increased their target price on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Robert W. Baird increased their target price on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Wells Fargo & Company increased their target price on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. The Goldman Sachs Group started coverage on Medtronic in a research note on Thursday, May 30th. They set a “sell” rating and a $83.00 target price for the company. Finally, UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and increased their target price for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $92.92.

Medtronic Price Performance

Shares of MDT opened at $88.63 on Wednesday. The stock has a market capitalization of $113.65 billion, a P/E ratio of 32.23, a P/E/G ratio of 2.57 and a beta of 0.84. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.49. The company has a 50 day moving average of $84.10 and a 200-day moving average of $82.87. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. The company had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $1.20 EPS. As a group, equities research analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Friday, September 27th. Medtronic’s payout ratio is presently 101.82%.

Medtronic 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.