Sentry Investment Management LLC Has $553,000 Stock Holdings in Medtronic plc (NYSE:MDT)

Sentry Investment Management LLC lowered its position in shares of Medtronic plc (NYSE:MDT) by 4.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,147 shares of the medical technology company’s stock after selling 289 shares during the quarter. Sentry Investment Management LLC’s holdings in Medtronic were worth $553,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. United Advisor Group LLC boosted its holdings in Medtronic by 49.0% during the third quarter. United Advisor Group LLC now owns 6,513 shares of the medical technology company’s stock worth $586,000 after purchasing an additional 2,141 shares during the last quarter. ASB Consultores LLC bought a new stake in Medtronic during the 3rd quarter worth about $210,000. Cary Street Partners Asset Management LLC boosted its stake in shares of Medtronic by 0.7% during the 3rd quarter. Cary Street Partners Asset Management LLC now owns 26,970 shares of the medical technology company’s stock worth $2,428,000 after buying an additional 182 shares during the last quarter. Moloney Securities Asset Management LLC grew its holdings in shares of Medtronic by 2.9% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 34,384 shares of the medical technology company’s stock valued at $3,096,000 after acquiring an additional 958 shares in the last quarter. Finally, Catalyst Capital Advisors LLC increased its position in shares of Medtronic by 12.1% in the third quarter. Catalyst Capital Advisors LLC now owns 28,920 shares of the medical technology company’s stock valued at $2,604,000 after acquiring an additional 3,120 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MDT has been the subject of several recent research reports. Piper Sandler increased their price target on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Citigroup raised their target price on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. Robert W. Baird increased their price target on shares of Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Finally, Truist Financial boosted their price objective 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. One research 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, the company has a consensus rating of “Hold” and an average price target of $95.36.

Medtronic Stock Performance

MDT opened at $89.31 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. The company has a market capitalization of $114.54 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The business has a fifty day simple moving average of $89.64 and a 200 day simple moving average of $84.27. Medtronic plc has a 1 year low of $69.32 and a 1 year high of $92.68.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $7.90 billion. During the same quarter in the previous year, the firm posted $1.20 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Research analysts expect that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid 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 yield of 3.14%. Medtronic’s dividend payout ratio (DPR) is presently 94.59%.

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.