Lakeside Advisors INC. Sells 243 Shares of Medtronic plc (NYSE:MDT)

Lakeside Advisors INC. trimmed its holdings in Medtronic plc (NYSE:MDT) by 1.6% in the 3rd quarter, Holdings Channel reports. The fund owned 15,168 shares of the medical technology company’s stock after selling 243 shares during the quarter. Medtronic comprises 0.9% of Lakeside Advisors INC.’s portfolio, making the stock its 24th biggest holding. Lakeside Advisors INC.’s holdings in Medtronic were worth $1,366,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the third quarter valued at $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic during the 3rd quarter valued at about $27,000. Lynx Investment Advisory acquired a new position in Medtronic during the 2nd quarter worth about $28,000. Gleason Group Inc. acquired a new stake in Medtronic in the 2nd quarter valued at about $42,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Medtronic in the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MDT shares. Wells Fargo & Company raised their price target on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Oppenheimer lifted their target price on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. Evercore ISI upped their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Friday, October 25th. One 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 stock. Based on data from MarketBeat, Medtronic has an average rating of “Hold” and a consensus target price of $95.36.

Medtronic Stock Up 0.9 %

Shares of MDT opened at $90.07 on Friday. The firm has a 50 day simple moving average of $89.64 and a two-hundred day simple moving average of $84.13. 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 one year low of $69.32 and a one year high of $92.68. The company has a market cap of $115.51 billion, a P/E ratio of 30.43, a P/E/G ratio of 2.59 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. Medtronic’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 EPS. Research analysts forecast that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. Medtronic’s 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.