Tompkins Financial Corp Trims Stock Position in Medtronic plc (NYSE:MDT)

Tompkins Financial Corp lowered its position in Medtronic plc (NYSE:MDT) by 34.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,351 shares of the medical technology company’s stock after selling 702 shares during the quarter. Tompkins Financial Corp’s holdings in Medtronic were worth $122,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new stake in shares of Medtronic in the 2nd quarter worth approximately $25,643,000. Olstein Capital Management L.P. lifted its holdings in Medtronic by 19.2% during the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock worth $7,833,000 after buying an additional 14,000 shares during the period. SageView Advisory Group LLC boosted its position in 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 acquiring an additional 9,523 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of 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 valued at $21,642,000 after acquiring an additional 31,195 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Medtronic by 6.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 368,682 shares of the medical technology company’s stock worth $29,019,000 after acquiring an additional 21,995 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Friday, October 25th. Citigroup raised their target price on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Oppenheimer increased their price objective on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a report on Wednesday, August 21st. Daiwa America raised Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Finally, Robert W. Baird increased their price target on Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $95.36.

Medtronic Stock Down 0.5 %

NYSE:MDT opened at $87.72 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. The company’s fifty day moving average price is $89.68 and its 200-day moving average price is $84.46. Medtronic plc has a 1-year low of $69.32 and a 1-year high of $92.68. The firm has a market capitalization of $112.50 billion, a P/E ratio of 29.64, a PEG ratio of 2.58 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The business had revenue of $7.97 billion during 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 revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. As a group, equities research analysts anticipate that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is 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.