Focus Financial Network Inc. Sells 1,447 Shares of Medtronic plc (NYSE:MDT)

Focus Financial Network Inc. trimmed its position in shares of Medtronic plc (NYSE:MDT) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,187 shares of the medical technology company’s stock after selling 1,447 shares during the quarter. Focus Financial Network Inc.’s holdings in Medtronic were worth $3,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. M&G Plc purchased a new stake in shares of Medtronic in the 1st quarter worth $259,160,000. Capital Research Global Investors increased its stake in shares of Medtronic by 7.1% in the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock worth $2,691,577,000 after purchasing an additional 2,044,109 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Medtronic by 1,195.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock worth $144,637,000 after purchasing an additional 1,695,800 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Medtronic by 8,908.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock worth $116,896,000 after purchasing an additional 1,284,002 shares in the last quarter. Finally, Troy Asset Management Ltd purchased a new stake in shares of Medtronic in the 2nd quarter worth $85,440,000. 82.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on MDT. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Citigroup upped their price objective on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Robert W. Baird increased their price target on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Friday, October 25th. Finally, Wells Fargo & Company raised their price target on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Medtronic presently has a consensus rating of “Hold” and an average price target of $95.36.

Medtronic Trading Up 0.9 %

Shares of MDT stock opened at $90.07 on Friday. Medtronic plc has a 12-month low of $69.32 and a 12-month high of $92.68. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The stock’s 50-day moving average price is $89.64 and its 200-day moving average price is $84.13. The stock has a market capitalization of $115.51 billion, a price-to-earnings ratio of 30.43, a price-to-earnings-growth ratio of 2.59 and a beta of 0.84.

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 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 analysts’ expectations of $7.90 billion. During the same period in the previous year, the firm posted $1.20 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. Equities research analysts predict that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.11%. 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.