Medtronic plc (NYSE:MDT) Shares Sold by NBC Securities Inc.

NBC Securities Inc. lowered its position in shares of Medtronic plc (NYSE:MDT) by 10.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 40,042 shares of the medical technology company’s stock after selling 4,859 shares during the period. NBC Securities Inc.’s holdings in Medtronic were worth $3,604,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MDT. First PREMIER Bank boosted its position in shares of Medtronic by 1.8% during the 3rd quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after purchasing an additional 116 shares in the last quarter. Quent Capital LLC boosted its holdings in Medtronic by 8.0% during the first quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock worth $146,000 after buying an additional 125 shares in the last quarter. Abbrea Capital LLC grew its position in Medtronic by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock worth $446,000 after buying an additional 125 shares during the last quarter. Waterway Wealth Management LLC increased its holdings in shares of Medtronic by 4.8% in the second quarter. Waterway Wealth Management LLC now owns 2,759 shares of the medical technology company’s stock valued at $217,000 after buying an additional 126 shares in the last quarter. Finally, Americana Partners LLC increased its holdings in shares of Medtronic by 2.0% in the second quarter. Americana Partners LLC now owns 6,667 shares of the medical technology company’s stock valued at $525,000 after buying an additional 128 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MDT. Robert W. Baird lifted 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. Stifel Nicolaus lifted their target price on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Tuesday, August 20th. Piper Sandler raised their price objective on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company boosted 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 research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Medtronic has an average rating of “Hold” and an average price target of $95.36.

Medtronic Stock Performance

MDT traded up $0.12 on Tuesday, hitting $90.13. The company had a trading volume of 1,046,806 shares, compared to its average volume of 6,251,447. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $91.49. 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’s fifty day moving average price is $87.74 and its 200 day moving average price is $83.46. The stock has a market cap of $115.57 billion, a price-to-earnings ratio of 32.73, a price-to-earnings-growth ratio of 2.53 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 (EPS) 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 business had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. During the same period in the prior year, the firm earned $1.20 EPS. Medtronic’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities analysts predict that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. Medtronic’s dividend payout ratio is presently 101.82%.

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.