Gamble Jones Investment Counsel reduced its stake in Medtronic PLC (NYSE:MDT) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,128 shares of the medical technology company’s stock after selling 399 shares during the period. Gamble Jones Investment Counsel’s holdings in Medtronic were worth $1,209,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Aviance Capital Partners LLC boosted its stake in shares of Medtronic by 5.1% in the second quarter. Aviance Capital Partners LLC now owns 5,098 shares of the medical technology company’s stock valued at $496,000 after buying an additional 247 shares during the period. LaFleur & Godfrey LLC lifted its stake in Medtronic by 10.5% during the second quarter. LaFleur & Godfrey LLC now owns 6,341 shares of the medical technology company’s stock worth $618,000 after purchasing an additional 600 shares during the last quarter. Hayden Royal LLC bought a new stake in Medtronic during the second quarter worth $275,000. Cim LLC lifted its stake in Medtronic by 12.9% during the second quarter. Cim LLC now owns 4,189 shares of the medical technology company’s stock worth $408,000 after purchasing an additional 480 shares during the last quarter. Finally, Concentric Wealth Management LLC lifted its stake in Medtronic by 3.1% during the second quarter. Concentric Wealth Management LLC now owns 19,536 shares of the medical technology company’s stock worth $1,903,000 after purchasing an additional 595 shares during the last quarter. Institutional investors and hedge funds own 81.18% of the company’s stock.
Several research firms have weighed in on MDT. BMO Capital Markets upped their target price on Medtronic from $107.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. ValuEngine cut Medtronic from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Cowen restated an “outperform” rating and set a $111.00 target price (up from $99.00) on shares of Medtronic in a research note on Wednesday, August 14th. UBS Group upped their target price on Medtronic from $112.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Oppenheimer upped their target price on Medtronic from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $114.33.
Shares of NYSE:MDT traded up $0.23 during trading on Friday, hitting $107.03. 2,260,267 shares of the company were exchanged, compared to its average volume of 5,086,191. The business’s 50 day moving average is $107.65 and its 200-day moving average is $100.69. The company has a market capitalization of $141.59 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 2.59 and a beta of 0.62. The company has a quick ratio of 2.20, a current ratio of 2.67 and a debt-to-equity ratio of 0.49. Medtronic PLC has a 1-year low of $81.66 and a 1-year high of $112.05.
Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.08. The company had revenue of $7.49 billion during the quarter, compared to the consensus estimate of $7.40 billion. Medtronic had a net margin of 14.41% and a return on equity of 14.36%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.17 earnings per share. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.56 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, September 27th were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $2.16 annualized dividend and a dividend yield of 2.02%. Medtronic’s dividend payout ratio (DPR) is presently 41.38%.
Medtronic Company Profile
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
Recommended Story: What is meant by buying and selling pressure?
Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT).
Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.