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

PDS Planning Inc trimmed its stake in shares of Medtronic plc (NYSE:MDT) by 25.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic in the third quarter worth about $27,000. Lynx Investment Advisory purchased a new stake in shares of Medtronic during the 2nd quarter worth about $28,000. Gleason Group Inc. purchased a new stake in shares of Medtronic during the 2nd quarter worth about $42,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Medtronic in the 2nd quarter valued at about $43,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on MDT shares. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Truist Financial boosted their price target on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Stifel Nicolaus increased their price objective on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Company boosted their target price on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $95.36.

Medtronic Price Performance

NYSE:MDT opened at $89.68 on Wednesday. Medtronic plc has a one year low of $69.32 and a one year high of $92.68. The stock has a market cap of $115.01 billion, a PE ratio of 30.30, a P/E/G ratio of 2.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The stock has a 50 day moving average price of $89.66 and a 200 day moving average price of $84.34.

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

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued 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 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.