TCI Wealth Advisors Inc. Has $476,000 Stake in Medtronic plc (NYSE:MDT)

by · The Cerbat Gem

TCI Wealth Advisors Inc. decreased its position in shares of Medtronic plc (NYSE:MDT – Free Report) by 5.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,290 shares of the medical technology company’s stock after selling 326 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Medtronic were worth $476,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new position in shares of Medtronic in the 2nd quarter valued at about $25,643,000. SageView Advisory Group LLC raised its position in shares of Medtronic by 130.3% in the first quarter. SageView Advisory Group LLC now owns 16,829 shares of the medical technology company’s stock valued at $1,467,000 after buying an additional 9,523 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Medtronic by 10.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 135,268 shares of the medical technology company’s stock worth $11,789,000 after purchasing an additional 12,250 shares in the last quarter. Empowered Funds LLC increased its holdings in Medtronic by 174.9% in the 1st quarter. Empowered Funds LLC now owns 74,903 shares of the medical technology company’s stock valued at $6,528,000 after buying an additional 47,657 shares during the period. Finally, National Bank of Canada FI lifted its stake in Medtronic by 13.6% during the first quarter. National Bank of Canada FI now owns 261,325 shares of the medical technology company’s stock worth $21,642,000 after purchasing an additional 31,195 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Robert W. Baird raised their price objective on Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Friday. Barclays increased their price target on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Finally, Truist Financial boosted their price target on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $95.36.

Read Our Latest Research Report on Medtronic

Medtronic Trading Up 0.1 %

MDT stock traded up $0.12 during midday trading on Monday, hitting $90.71. The company had a trading volume of 1,101,042 shares, compared to its average volume of 6,190,876. The stock has a market cap of $116.31 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 2.60 and a beta of 0.84. 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 stock’s 50 day moving average price is $89.30 and its 200 day moving average price is $83.85. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $92.68.

Medtronic (NYSE:MDT – Get Free Report) last announced its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share 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 firm had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. During the same quarter in the previous year, the firm posted $1.20 EPS. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities research analysts expect that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Friday, September 27th. Medtronic’s payout ratio is 101.82%.

Medtronic 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.

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