Valeo Financial Advisors LLC Sells 1,144 Shares of Medtronic plc (NYSE:MDT)

Valeo Financial Advisors LLC lowered its position in Medtronic plc (NYSE:MDT) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,798 shares of the medical technology company’s stock after selling 1,144 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Medtronic were worth $1,601,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MDT. Sunpointe LLC bought a new position in Medtronic in the fourth quarter worth approximately $212,000. American Trust lifted its holdings in Medtronic by 2.8% during the fourth quarter. American Trust now owns 10,863 shares of the medical technology company’s stock worth $895,000 after buying an additional 296 shares during the period. Scarborough Advisors LLC purchased a new stake in Medtronic during the fourth quarter worth $62,000. Beacon Financial Group purchased a new stake in Medtronic during the fourth quarter worth $1,586,000. Finally, Virtu Financial LLC lifted its holdings in Medtronic by 111.1% during the fourth quarter. Virtu Financial LLC now owns 18,870 shares of the medical technology company’s stock worth $1,554,000 after buying an additional 9,932 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Oppenheimer upped their target price on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Robert W. Baird upped their target price on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Daiwa America upgraded Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Truist Financial increased their price objective on Medtronic from $85.00 to $90.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Evercore ISI increased their price objective on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $95.14.

Medtronic Price Performance

NYSE MDT opened at $89.36 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. The stock’s fifty day moving average price is $87.54 and its 200 day moving average price is $83.46. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $91.49. The company has a market cap of $114.58 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 2.53 and a beta of 0.84.

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

Medtronic Announces Dividend

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

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.