Medtronic plc (NYSE:MDT) Shares Sold by PDS Planning Inc

PDS Planning Inc reduced its stake in Medtronic plc (NYSE:MDT) by 25.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,561 shares of the medical technology company’s stock after selling 893 shares during the period. PDS Planning Inc’s holdings in Medtronic were worth $231,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on MDT. Wells Fargo & Company increased their target price on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Evercore ISI increased their price target on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Friday, October 25th. Finally, Barclays boosted their price target on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. One 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.36.

Medtronic Price Performance

Shares of MDT opened at $89.68 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. Medtronic plc has a 1-year low of $69.32 and a 1-year high of $92.68. The stock has a market cap of $115.01 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The firm has a fifty day moving average price of $89.66 and a 200 day moving average price of $84.34.

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

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.12%. Medtronic’s dividend payout ratio (DPR) is presently 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.