Gamble Jones Investment Counsel Sells 399 Shares of Medtronic PLC (NYSE:MDT)

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.

In related news, SVP Richard Kuntz sold 21,425 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $107.51, for a total value of $2,303,401.75. Following the completion of the sale, the senior vice president now directly owns 78,916 shares in the company, valued at $8,484,259.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Hooman Hakami sold 82,877 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $107.31, for a total value of $8,893,530.87. Following the completion of the sale, the executive vice president now owns 30,761 shares of the company’s stock, valued at $3,300,962.91. The disclosure for this sale can be found here. Insiders have sold 156,467 shares of company stock valued at $16,900,132 over the last quarter. Company insiders own 0.28% of the company’s stock.

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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