Boomfish Wealth Group LLC Sells 1,138 Shares of Medtronic plc (NYSE:MDT)

Boomfish Wealth Group LLC decreased its holdings in Medtronic plc (NYSE:MDT) by 7.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,741 shares of the medical technology company’s stock after selling 1,138 shares during the period. Boomfish Wealth Group LLC’s holdings in Medtronic were worth $1,327,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its position in Medtronic by 7.1% during the 1st 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 purchasing an additional 2,044,109 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of Medtronic by 8.3% during the second quarter. Pzena Investment Management LLC now owns 8,307,123 shares of the medical technology company’s stock valued at $653,854,000 after buying an additional 637,931 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Medtronic by 7.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock valued at $560,494,000 after buying an additional 515,751 shares in the last quarter. Longview Partners Guernsey LTD grew its position in shares of Medtronic by 2.3% in the 1st quarter. Longview Partners Guernsey LTD now owns 6,635,054 shares of the medical technology company’s stock worth $578,245,000 after buying an additional 147,737 shares during the last quarter. Finally, Raymond James & Associates increased its position in shares of Medtronic by 5.7% during the second quarter. Raymond James & Associates now owns 6,246,361 shares of the medical technology company’s stock worth $491,651,000 after purchasing an additional 336,618 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MDT. Barclays upped their price objective on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Wells Fargo & Company raised their price target on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Evercore ISI boosted their price objective on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Oppenheimer raised their price objective on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $95.36.

Medtronic Price Performance

NYSE:MDT opened at $90.01 on Tuesday. The firm has a market cap of $115.42 billion, a P/E ratio of 32.73, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84. The stock has a 50 day moving average of $87.74 and a two-hundred day moving average of $83.46. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $91.49. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55.

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

Medtronic Announces Dividend

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