Medtronic plc (NYSE:MDT) Shares Sold by ST Germain D J Co. Inc.

ST Germain D J Co. Inc. reduced its holdings in Medtronic plc (NYSE:MDT) by 5.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,505 shares of the medical technology company’s stock after selling 4,882 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Medtronic were worth $7,158,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MDT. Los Angeles Capital Management LLC grew its position in Medtronic by 754.8% in the 1st quarter. Los Angeles Capital Management LLC now owns 58,993 shares of the medical technology company’s stock valued at $5,141,000 after buying an additional 52,092 shares in the last quarter. Wedmont Private Capital boosted its holdings in shares of Medtronic by 4.6% in the first quarter. Wedmont Private Capital now owns 3,798 shares of the medical technology company’s stock valued at $318,000 after acquiring an additional 166 shares in the last quarter. Park Avenue Securities LLC increased its stake in shares of Medtronic by 20.1% during the first quarter. Park Avenue Securities LLC now owns 46,764 shares of the medical technology company’s stock valued at $4,075,000 after acquiring an additional 7,841 shares during the period. RFG Advisory LLC raised its holdings in Medtronic by 5.2% during the first quarter. RFG Advisory LLC now owns 23,076 shares of the medical technology company’s stock worth $2,011,000 after purchasing an additional 1,134 shares in the last quarter. Finally, &PARTNERS lifted its position in Medtronic by 233.4% in the first quarter. &PARTNERS now owns 10,843 shares of the medical technology company’s stock worth $951,000 after purchasing an additional 7,591 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on MDT. Wells Fargo & Company boosted their price objective on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Citigroup boosted their price target on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Tuesday, August 20th. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Finally, UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and increased their target price for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $95.36.

Medtronic Stock Up 2.7 %

Shares of MDT stock traded up $2.45 on Friday, reaching $92.24. 7,355,589 shares of the company’s stock traded hands, compared to its average volume of 6,255,872. The company has a market capitalization of $118.28 billion, a P/E ratio of 33.54, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $92.25. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The business’s 50 day moving average price is $88.45 and its two-hundred day moving average price is $83.60.

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 company had revenue of $7.97 billion for 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%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.20 EPS. On average, equities analysts forecast that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Announces Dividend

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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

About Medtronic

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.