Cornell Pochily Investment Advisors Inc. Sells 248 Shares of Medtronic plc (NYSE:MDT)

Cornell Pochily Investment Advisors Inc. decreased its holdings in Medtronic plc (NYSE:MDT) by 8.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,751 shares of the medical technology company’s stock after selling 248 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in Medtronic were worth $248,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MDT. Lynx Investment Advisory bought a new stake in shares of Medtronic in the 2nd quarter valued at about $28,000. Tributary Capital Management LLC bought a new stake in Medtronic in the first quarter valued at approximately $33,000. Riverview Trust Co acquired a new stake in Medtronic during the 1st quarter valued at approximately $39,000. Gleason Group Inc. bought a new position in Medtronic during the 2nd quarter worth approximately $42,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Medtronic in the 2nd quarter worth approximately $43,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MDT shares. Piper Sandler increased their price objective on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Robert W. Baird lifted their price objective on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Stifel Nicolaus boosted their price target on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Tuesday, August 20th. Finally, Barclays raised their target price on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Medtronic has an average rating of “Hold” and an average price target of $95.36.

Medtronic Stock Up 0.7 %

MDT stock opened at $90.01 on Tuesday. The stock’s 50 day moving average is $87.74 and its 200-day moving average is $83.46. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.49. The firm has a market capitalization of $115.42 billion, a PE ratio of 32.73, a P/E/G ratio of 2.53 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share 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 business had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. During the same period last year, the business earned $1.20 EPS. The business’s revenue was up 3.4% on a year-over-year basis. Sell-side analysts expect 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 3.11%. Medtronic’s dividend payout ratio (DPR) is 101.82%.

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.