Country Club Bank Has $8.89 Million Position in Medtronic plc (NYSE:MDT)

Country Club Bank lowered its holdings in Medtronic plc (NYSE:MDT) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,577 shares of the medical technology company’s stock after selling 2,174 shares during the quarter. Country Club Bank’s holdings in Medtronic were worth $8,894,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Lynx Investment Advisory bought a new stake in shares of Medtronic in the 2nd quarter valued at approximately $28,000. Tributary Capital Management LLC bought a new stake in Medtronic in the first quarter valued at $33,000. Gleason Group Inc. bought a new stake in Medtronic in the second quarter valued at $42,000. Opal Wealth Advisors LLC acquired a new stake in shares of Medtronic during the 2nd quarter worth about $43,000. Finally, Olistico Wealth LLC bought a new position in shares of Medtronic in the second quarter valued at approximately $45,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Barclays increased their target price on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Piper Sandler increased their price target on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Truist Financial boosted their price objective on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Friday. Finally, Citigroup increased their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Medtronic has a consensus rating of “Hold” and an average target price of $95.36.

Medtronic Stock Down 0.4 %

Shares of MDT stock opened at $90.59 on Friday. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $92.68. 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 fifty day moving average of $89.30 and a 200-day moving average of $83.84. The company has a market capitalization of $116.18 billion, a price-to-earnings ratio of 30.60, a P/E/G ratio of 2.60 and a beta of 0.84.

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

Medtronic Announces Dividend

The firm also recently declared 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 3.09%. Medtronic’s dividend payout ratio is currently 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.