FLC Capital Advisors Sells 125 Shares of Medtronic plc (NYSE:MDT)

FLC Capital Advisors lessened its holdings in Medtronic plc (NYSE:MDT) by 3.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,109 shares of the medical technology company’s stock after selling 125 shares during the period. FLC Capital Advisors’ holdings in Medtronic were worth $370,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Lynx Investment Advisory bought a new stake in Medtronic in the second quarter worth about $28,000. Tributary Capital Management LLC purchased a new position in Medtronic in the first quarter valued at approximately $33,000. Riverview Trust Co bought a new position in Medtronic during the first quarter valued at $39,000. Gleason Group Inc. bought a new position in Medtronic during the second quarter valued at $42,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Medtronic in the second quarter worth $43,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MDT. Barclays increased their price target on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Citigroup lifted 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. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Tuesday, August 20th. Evercore ISI raised their price objective on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Truist Financial boosted their target price on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $95.36.

Medtronic Stock Up 0.2 %

Shares of MDT opened at $89.99 on Thursday. The firm has a market cap of $115.39 billion, a P/E ratio of 32.72, a P/E/G ratio of 2.53 and a beta of 0.84. 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 1 year low of $68.84 and a 1 year high of $91.49. The stock has a 50 day simple moving average of $88.10 and a two-hundred day simple moving average of $83.52.

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

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders 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 yield of 3.11%. Medtronic’s dividend payout ratio (DPR) is currently 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.