Catalyst Financial Partners LLC Lowers Position in Medtronic plc (NYSE:MDT)

Catalyst Financial Partners LLC cut its stake in Medtronic plc (NYSE:MDT) by 4.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,173 shares of the medical technology company’s stock after selling 175 shares during the period. Catalyst Financial Partners LLC’s holdings in Medtronic were worth $376,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MDT. M&G Plc purchased a new position in shares of Medtronic during the first quarter valued at approximately $259,160,000. Capital Research Global Investors lifted its holdings in shares of Medtronic by 7.1% during the first quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after purchasing an additional 2,044,109 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Medtronic by 1,195.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock valued at $144,637,000 after purchasing an additional 1,695,800 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Medtronic by 8,908.6% during the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock valued at $116,896,000 after purchasing an additional 1,284,002 shares during the last quarter. Finally, Troy Asset Management Ltd purchased a new position in shares of Medtronic during the second quarter valued at approximately $85,440,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MDT has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Friday, October 25th. Robert W. Baird boosted their price objective on shares of Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Oppenheimer boosted their price objective on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Finally, Barclays boosted their price objective on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. One investment 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $95.36.

Medtronic Trading Down 1.4 %

Shares of MDT stock opened at $89.25 on Friday. Medtronic plc has a 1 year low of $69.32 and a 1 year high of $92.68. The firm has a fifty day moving average price of $89.61 and a 200-day moving average price of $84.06. 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 company has a market cap of $114.45 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 2.59 and a beta of 0.84.

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

Medtronic Announces Dividend

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

Medtronic Company Profile

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.