Crossmark Global Holdings Inc. Has $30.35 Million Position in Medtronic plc (NYSE:MDT)

by · The Cerbat Gem

Crossmark Global Holdings Inc. raised its position in Medtronic plc (NYSE:MDT – Free Report) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 337,098 shares of the medical technology company’s stock after buying an additional 7,683 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Medtronic were worth $30,349,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC acquired a new stake in Medtronic during the third quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth $27,000. Lynx Investment Advisory bought a new position in shares of Medtronic in the second quarter worth $28,000. Gleason Group Inc. acquired a new position in Medtronic in the second quarter valued at about $42,000. Finally, Opal Wealth Advisors LLC bought a new stake in Medtronic during the second quarter worth about $43,000. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Daiwa America raised shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Friday, October 25th. Wells Fargo & Company lifted their price target on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Oppenheimer boosted their price target on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $95.36.

Read Our Latest Report on Medtronic

Medtronic Trading Down 0.5 %

NYSE MDT traded down $0.40 on Friday, reaching $87.72. The company had a trading volume of 8,137,674 shares, compared to its average volume of 4,969,610. The firm has a market cap of $112.50 billion, a price-to-earnings ratio of 29.64, a P/E/G ratio of 2.58 and a beta of 0.84. Medtronic plc has a fifty-two week low of $69.32 and a fifty-two week high of $92.68. The business has a 50 day moving average of $89.68 and a two-hundred day moving average of $84.46. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61.

Medtronic (NYSE:MDT – Get Free Report) last issued its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. During the same period last year, the company earned $1.20 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. Analysts forecast that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a $0.70 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.19%. Medtronic’s payout ratio is 94.59%.

Medtronic Company Profile

(Free Report)

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.

Further Reading

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