Medtronic plc (NYSE:MDT) Stake Lessened by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,940 shares of the medical technology company’s stock after selling 553 shares during the period. GHP Investment Advisors Inc.’s holdings in Medtronic were worth $3,866,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Lynx Investment Advisory purchased a new stake in shares of Medtronic in the second quarter worth approximately $28,000. Tributary Capital Management LLC acquired a new position in Medtronic in the 1st quarter valued at approximately $33,000. Gleason Group Inc. purchased a new stake in Medtronic in the 2nd quarter worth approximately $42,000. Opal Wealth Advisors LLC acquired a new stake in shares of Medtronic during the 2nd quarter valued at $43,000. Finally, Olistico Wealth LLC purchased a new position in shares of Medtronic during the 2nd quarter valued at $45,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MDT has been the subject of several recent research reports. Barclays increased their price objective on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Truist Financial lifted their price target on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a report on Monday, October 14th. Evercore ISI increased their price objective on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Citigroup lifted 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. Finally, Oppenheimer increased their price target 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Medtronic has an average rating of “Hold” and an average target price of $95.36.

Medtronic Trading Down 0.4 %

Shares of NYSE:MDT opened at $90.59 on Friday. 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 stock’s 50-day moving average is $89.30 and its 200-day moving average is $83.84. The company has a market cap of $116.18 billion, a P/E ratio of 30.60, a P/E/G ratio of 2.60 and a beta of 0.84. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $92.68.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping 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 company had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. During the same period in the previous year, the business posted $1.20 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts predict 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. Shareholders of record on Friday, September 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.09%. Medtronic’s dividend payout ratio is 94.59%.

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.