Lmcg Investments LLC Has $2.20 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Lmcg Investments LLC cut its position in shares of Medtronic plc (NYSE:MDT) by 4.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,392 shares of the medical technology company’s stock after selling 1,179 shares during the quarter. Lmcg Investments LLC’s holdings in Medtronic were worth $2,196,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MDT. Private Advisor Group LLC grew its position in Medtronic by 2.9% during the first quarter. Private Advisor Group LLC now owns 113,021 shares of the medical technology company’s stock worth $9,849,000 after buying an additional 3,175 shares in the last quarter. Mission Wealth Management LP lifted its stake in Medtronic by 13.0% during the first quarter. Mission Wealth Management LP now owns 6,251 shares of the medical technology company’s stock worth $545,000 after purchasing an additional 718 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Medtronic by 12.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 290,357 shares of the medical technology company’s stock worth $23,668,000 after purchasing an additional 31,098 shares during the period. PDS Planning Inc bought a new position in Medtronic during the first quarter worth about $207,000. Finally, CNB Bank lifted its stake in Medtronic by 17.8% during the first quarter. CNB Bank now owns 15,622 shares of the medical technology company’s stock worth $1,361,000 after purchasing an additional 2,358 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on MDT. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Friday, October 25th. Truist Financial raised their price target on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Barclays raised their price target on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company lifted their target price on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $95.36.

Medtronic Trading Up 0.9 %

MDT stock traded up $0.82 during trading on Friday, hitting $90.07. The company had a trading volume of 5,052,408 shares, compared to its average volume of 6,204,974. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $89.64 and a 200-day moving average price of $84.13. Medtronic plc has a 12 month low of $69.32 and a 12 month high of $92.68. The stock has a market cap of $115.51 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 2.59 and a beta of 0.84.

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

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio is presently 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.