Medtronic plc (NYSE:MDT) Shares Sold by Crumly & Associates Inc.

Crumly & Associates Inc. lowered its position in shares of Medtronic plc (NYSE:MDT) by 1.8% in the third quarter, HoldingsChannel.com reports. The firm owned 6,136 shares of the medical technology company’s stock after selling 115 shares during the quarter. Crumly & Associates Inc.’s holdings in Medtronic were worth $552,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. M&G Plc acquired a new position in Medtronic in the first quarter valued at $259,160,000. Capital Research Global Investors boosted its stake in Medtronic by 7.1% in the first quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after acquiring an additional 2,044,109 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Medtronic by 1,195.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock valued at $144,637,000 after acquiring an additional 1,695,800 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Medtronic by 8,908.6% in the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock valued at $116,896,000 after acquiring an additional 1,284,002 shares in the last quarter. Finally, Troy Asset Management Ltd acquired a new position in Medtronic in the second quarter valued at $85,440,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Down 0.5 %

Shares of Medtronic stock opened at $87.72 on Friday. 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 market cap of $112.50 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 2.58 and a beta of 0.84. The company has a 50-day moving average of $89.68 and a two-hundred day moving average of $84.46.

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

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.70 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.19%. Medtronic’s dividend payout ratio (DPR) is presently 94.59%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MDT. Stifel Nicolaus increased their target price on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Citigroup increased their target price on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Truist Financial increased their target price on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Finally, Barclays increased their target price on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have issued 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 presently has an average rating of “Hold” and an average price target of $95.36.

Medtronic Company 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.