Medtronic plc (NYSE:MDT) Shares Sold by US Bancorp DE

US Bancorp DE trimmed its position in shares of Medtronic plc (NYSE:MDT) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,485,583 shares of the medical technology company’s stock after selling 21,803 shares during the period. US Bancorp DE’s holdings in Medtronic were worth $133,748,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MDT. Nikulski Financial Inc. bought a new stake in shares of Medtronic during the third quarter valued at approximately $203,000. Tevis Investment Management boosted its position in Medtronic by 9.4% during the 3rd quarter. Tevis Investment Management now owns 41,748 shares of the medical technology company’s stock worth $3,788,000 after acquiring an additional 3,586 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. grew its stake in shares of Medtronic by 3.1% in the third quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 4,961 shares of the medical technology company’s stock worth $447,000 after purchasing an additional 150 shares in the last quarter. Fiducient Advisors LLC acquired a new position in shares of Medtronic during the third quarter valued at $273,000. Finally, JFS Wealth Advisors LLC raised its stake in shares of Medtronic by 168.1% during the third quarter. JFS Wealth Advisors LLC now owns 2,383 shares of the medical technology company’s stock valued at $215,000 after purchasing an additional 1,494 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Down 1.2 %

MDT stock traded down $1.10 during mid-day trading on Thursday, reaching $89.40. 899,697 shares of the stock traded hands, compared to its average volume of 6,181,745. The stock’s fifty day moving average is $89.58 and its 200-day moving average is $84.03. The company has a market cap of $114.63 billion, a P/E ratio of 32.93, a P/E/G 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. Medtronic plc has a 52-week low of $69.32 and a 52-week high of $92.68.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. The business had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. Medtronic’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 earnings per share. As a group, sell-side analysts expect that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.13%. The ex-dividend date was Friday, September 27th. Medtronic’s payout ratio is currently 101.82%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Stifel Nicolaus raised their target price on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Citigroup boosted their target price on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Barclays increased their price target on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Evercore ISI boosted their price objective on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, Robert W. Baird raised their target price on Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $95.36.

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.