Old North State Trust LLC Buys 210 Shares of Medtronic plc (NYSE:MDT)

Old North State Trust LLC increased its stake in Medtronic plc (NYSE:MDT) by 7.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,013 shares of the medical technology company’s stock after buying an additional 210 shares during the quarter. Old North State Trust LLC’s holdings in Medtronic were worth $271,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MDT. Fortitude Family Office LLC purchased a new position in shares of Medtronic during the 3rd quarter worth about $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic during the third quarter valued at approximately $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic during the 3rd quarter valued at $27,000. J. Stern & Co. LLP bought a new position in Medtronic in the 3rd quarter valued at $30,000. Finally, Chelsea Counsel Co. purchased a new stake in Medtronic in the third quarter worth $45,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Down 0.2 %

NYSE MDT opened at $82.73 on Friday. The stock has a market cap of $106.08 billion, a P/E ratio of 25.30, a P/E/G ratio of 2.35 and a beta of 0.82. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68. The company has a fifty day simple moving average of $87.77 and a two-hundred day simple moving average of $84.99.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the previous year, the business earned $1.25 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts forecast that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.63%.

Analyst Ratings Changes

MDT has been the subject of a number of research analyst reports. Sanford C. Bernstein lifted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Stifel Nicolaus raised their price objective on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Royal Bank of Canada upgraded 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 report on Thursday, October 10th. UBS Group upgraded shares of 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 report on Thursday, August 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $95.27.

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.