Nicholson Wealth Management Group LLC Invests $583,000 in Medtronic plc (NYSE:MDT)

Nicholson Wealth Management Group LLC acquired a new position in Medtronic plc (NYSE:MDT) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,472 shares of the medical technology company’s stock, valued at approximately $583,000.

Other large investors also recently added to or reduced their stakes in the company. Lynx Investment Advisory bought a new stake in shares of Medtronic during the 2nd quarter valued at about $28,000. Tributary Capital Management LLC bought a new stake in Medtronic during the first quarter valued at approximately $33,000. Gleason Group Inc. bought a new stake in Medtronic during the second quarter valued at approximately $42,000. Opal Wealth Advisors LLC purchased a new position in Medtronic in the 2nd quarter worth approximately $43,000. Finally, Olistico Wealth LLC bought a new position in shares of Medtronic in the 2nd quarter worth $45,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 1.4 %

Shares of NYSE MDT opened at $90.99 on Friday. The firm’s fifty day moving average is $89.04 and its 200 day moving average is $83.74. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $92.68. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The company has a market cap of $116.67 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.53 and a beta of 0.84.

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

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is currently 101.82%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Daiwa America raised Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Oppenheimer increased their price objective on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. Wells Fargo & Company boosted their target price on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $95.36.

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.