Sentry Investment Management LLC Has $553,000 Stake in Medtronic plc (NYSE:MDT)

Sentry Investment Management LLC cut its position in Medtronic plc (NYSE:MDT) by 4.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,147 shares of the medical technology company’s stock after selling 289 shares during the quarter. Sentry Investment Management LLC’s holdings in Medtronic were worth $553,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC acquired a new position in Medtronic during the third quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic during the 3rd quarter worth $27,000. Lynx Investment Advisory acquired a new stake in Medtronic in the second quarter valued at about $28,000. Gleason Group Inc. bought a new position in Medtronic in the second quarter valued at about $42,000. Finally, Opal Wealth Advisors LLC bought a new position in Medtronic in the second quarter valued at about $43,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Friday, October 25th. Wells Fargo & Company raised their target price on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Evercore ISI upped their price target on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Citigroup increased their price target on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Finally, Oppenheimer boosted their price objective on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $95.36.

Medtronic Stock Performance

NYSE:MDT opened at $89.31 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. Medtronic plc has a fifty-two week low of $69.32 and a fifty-two week high of $92.68. The company has a 50 day simple moving average of $89.64 and a two-hundred day simple moving average of $84.27. The company has a market capitalization of $114.54 billion, a PE ratio of 30.17, a P/E/G ratio of 2.57 and a beta of 0.84.

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

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio is 94.59%.

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.