Medtronic plc (NYSE:MDT) Shares Sold by Winch Advisory Services LLC

Winch Advisory Services LLC trimmed its position in shares of Medtronic plc (NYSE:MDT) by 14.6% during the third quarter, Holdings Channel reports. The firm owned 8,976 shares of the medical technology company’s stock after selling 1,537 shares during the quarter. Winch Advisory Services LLC’s holdings in Medtronic were worth $808,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MDT. Austin Private Wealth LLC lifted its stake in Medtronic by 8.6% during the first quarter. Austin Private Wealth LLC now owns 2,788 shares of the medical technology company’s stock worth $237,000 after purchasing an additional 221 shares in the last quarter. Riverview Trust Co acquired a new position in Medtronic during the first quarter worth $39,000. Dynamic Advisor Solutions LLC lifted its stake in Medtronic by 30.8% during the first quarter. Dynamic Advisor Solutions LLC now owns 30,782 shares of the medical technology company’s stock worth $2,683,000 after purchasing an additional 7,249 shares in the last quarter. DLK Investment Management LLC increased its position in shares of Medtronic by 24.5% during the first quarter. DLK Investment Management LLC now owns 47,118 shares of the medical technology company’s stock worth $4,106,000 after acquiring an additional 9,258 shares during the period. Finally, F&V Capital Management LLC increased its position in shares of Medtronic by 1.2% during the first quarter. F&V Capital Management LLC now owns 167,080 shares of the medical technology company’s stock worth $14,561,000 after acquiring an additional 2,000 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MDT shares. Daiwa America raised Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Barclays upped their price objective on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Royal Bank of Canada raised 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 report on Thursday, October 10th. Robert W. Baird upped 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $95.36.

Medtronic Stock Performance

NYSE MDT opened at $91.05 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. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $92.25. The company has a market capitalization of $116.75 billion, a PE ratio of 33.11, a P/E/G ratio of 2.53 and a beta of 0.84. The company has a fifty day moving average of $88.65 and a two-hundred day moving average of $83.63.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. During the same quarter in the prior year, the firm posted $1.20 earnings per share. Medtronic’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, analysts expect 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. Stockholders 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 annualized dividend and a dividend yield of 3.08%. Medtronic’s dividend payout ratio (DPR) is 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.