Medtronic plc (NYSE:MDT) Shares Sold by Verity Asset Management Inc.

Verity Asset Management Inc. lessened its holdings in shares of Medtronic plc (NYSE:MDT) by 28.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,859 shares of the medical technology company’s stock after selling 1,499 shares during the period. Verity Asset Management Inc.’s holdings in Medtronic were worth $348,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. M&G Plc purchased a new position in shares of Medtronic in the first quarter valued at $259,160,000. Capital Research Global Investors increased its holdings 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 acquiring an additional 2,044,109 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of 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 purchasing an additional 1,695,800 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of 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 purchasing an additional 1,284,002 shares during the last quarter. Finally, Troy Asset Management Ltd purchased a new stake in Medtronic in the 2nd quarter valued at approximately $85,440,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MDT shares. Citigroup raised their price objective on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Barclays raised their target price on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Evercore ISI lifted their price target on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Daiwa America raised Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Finally, Oppenheimer raised their price objective on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $95.36.

Medtronic Trading Down 0.5 %

MDT stock opened at $87.72 on Friday. 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 firm has a market cap of $112.50 billion, a P/E ratio of 29.64, a P/E/G ratio of 2.58 and a beta of 0.84. Medtronic plc has a 1-year low of $69.32 and a 1-year high of $92.68. The business’s 50 day moving average is $89.68 and its 200-day moving average is $84.46.

Medtronic (NYSE:MDT) last announced its 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 business 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 earned $1.20 EPS. Medtronic’s revenue was up 3.4% compared to the same quarter last year. Equities analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given 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 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.