First Affirmative Financial Network Cuts Stock Position in Medtronic plc (NYSE:MDT)

First Affirmative Financial Network lessened its stake in shares of Medtronic plc (NYSE:MDT) by 10.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,755 shares of the medical technology company’s stock after selling 691 shares during the period. First Affirmative Financial Network’s holdings in Medtronic were worth $518,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Lynx Investment Advisory acquired a new position in shares of Medtronic in the 2nd quarter valued at $28,000. Tributary Capital Management LLC purchased a new stake in shares of Medtronic during the first quarter worth $33,000. Fortis Group Advisors LLC grew its holdings in shares of Medtronic by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock worth $38,000 after buying an additional 230 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Medtronic during the first quarter worth $39,000. Finally, Gleason Group Inc. purchased a new stake in shares of Medtronic in the second quarter valued at about $42,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.6 %

Shares of NYSE:MDT opened at $89.35 on Friday. The company has a market capitalization of $114.57 billion, a PE ratio of 32.49, a P/E/G ratio of 2.53 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.49. The firm has a 50 day simple moving average of $87.54 and a 200-day simple moving average of $83.46.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The business had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 EPS. On average, equities analysts predict that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MDT shares. Evercore ISI upped their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Tuesday, August 20th. Citigroup increased their price target on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Wells Fargo & Company increased their price target on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Barclays increased their price target on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research 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 stock. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and a consensus price target of $95.14.

Medtronic 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.