Mutual Advisors LLC Lowers Position in Medtronic plc (NYSE:MDT)

Mutual Advisors LLC decreased its stake in Medtronic plc (NYSE:MDT) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,978 shares of the medical technology company’s stock after selling 1,545 shares during the quarter. Mutual Advisors LLC’s holdings in Medtronic were worth $3,729,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Manning & Napier Advisors LLC bought a new stake in Medtronic during the 2nd quarter worth approximately $25,643,000. SageView Advisory Group LLC raised its position in shares of Medtronic by 130.3% during the 1st quarter. SageView Advisory Group LLC now owns 16,829 shares of the medical technology company’s stock valued at $1,467,000 after purchasing an additional 9,523 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Medtronic by 10.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 135,268 shares of the medical technology company’s stock valued at $11,789,000 after purchasing an additional 12,250 shares during the period. Empowered Funds LLC lifted its stake in shares of Medtronic by 174.9% during the 1st quarter. Empowered Funds LLC now owns 74,903 shares of the medical technology company’s stock valued at $6,528,000 after buying an additional 47,657 shares in the last quarter. Finally, National Bank of Canada FI boosted its holdings in Medtronic by 13.6% in the 1st quarter. National Bank of Canada FI now owns 261,325 shares of the medical technology company’s stock worth $21,642,000 after buying an additional 31,195 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.3 %

MDT opened at $90.55 on Thursday. Medtronic plc has a 12 month low of $69.32 and a 12 month high of $92.68. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average of $89.58 and a 200 day moving average of $84.03. The firm has a market cap of $116.11 billion, a P/E ratio of 32.93, a P/E/G ratio of 2.60 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03. The firm had revenue of $7.97 billion for 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 company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. As a group, research analysts forecast that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued 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 yield of 3.09%. Medtronic’s payout ratio is 101.82%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MDT. Barclays boosted their price objective on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Citigroup upped their price target on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Wells Fargo & Company increased their price objective on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Friday, October 25th. Finally, Robert W. Baird upped their target price on shares of Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Medtronic presently has an average rating of “Hold” and a consensus price target of $95.36.

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.