Argyle Capital Management Inc. Sells 2,270 Shares of Medtronic plc (NYSE:MDT)

Argyle Capital Management Inc. decreased its position in Medtronic plc (NYSE:MDT) by 6.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,050 shares of the medical technology company’s stock after selling 2,270 shares during the quarter. Argyle Capital Management Inc.’s holdings in Medtronic were worth $3,066,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new position in Medtronic during the 3rd quarter worth $27,000. Lynx Investment Advisory acquired a new stake in Medtronic in the 2nd quarter worth about $28,000. Tributary Capital Management LLC bought a new stake in Medtronic in the 1st quarter valued at about $33,000. Gleason Group Inc. acquired a new position in shares of Medtronic during the 2nd quarter worth approximately $42,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Medtronic during the second quarter worth approximately $43,000. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Robert W. Baird increased their price target on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Citigroup boosted their price target on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Stifel Nicolaus raised their target price on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Finally, Daiwa America raised shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $95.36.

Medtronic Trading Up 0.6 %

Shares of NYSE:MDT traded up $0.54 during trading on Tuesday, reaching $91.14. The stock had a trading volume of 689,735 shares, compared to its average volume of 6,179,583. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $92.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The firm’s fifty day moving average is $89.42 and its 200 day moving average is $83.91. The stock has a market cap of $116.87 billion, a price-to-earnings ratio of 32.95, 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The firm had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business posted $1.20 EPS. As a group, equities analysts forecast that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.07%. The ex-dividend date was Friday, September 27th. Medtronic’s dividend payout ratio (DPR) 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.