Medtronic plc (NYSE:MDT) Stock Position Lessened by LaFleur & Godfrey LLC

LaFleur & Godfrey LLC reduced its stake in shares of Medtronic plc (NYSE:MDT) by 3.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,719 shares of the medical technology company’s stock after selling 2,072 shares during the quarter. LaFleur & Godfrey LLC’s holdings in Medtronic were worth $4,746,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Lynx Investment Advisory bought a new position in shares of Medtronic in the second quarter valued at approximately $28,000. Tributary Capital Management LLC bought a new position in Medtronic during the 1st quarter valued at $33,000. Riverview Trust Co acquired a new position in shares of Medtronic during the 1st quarter valued at $39,000. Gleason Group Inc. bought a new stake in shares of Medtronic in the 2nd quarter worth $42,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Medtronic in the second quarter valued at $43,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on MDT shares. Piper Sandler lifted their target price on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Tuesday, August 20th. Citigroup lifted 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. Robert W. Baird increased their price objective on Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Finally, UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.36.

Medtronic Stock Up 0.3 %

NYSE:MDT traded up $0.29 during trading hours on Wednesday, hitting $90.13. 1,381,079 shares of the company’s stock traded hands, compared to its average volume of 6,242,730. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.49. The firm has a market cap of $115.57 billion, a P/E ratio of 32.67, 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 quick ratio of 1.61 and a current ratio of 2.13. The stock’s fifty day moving average price is $87.92 and its two-hundred day moving average price is $83.47.

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

Medtronic Dividend Announcement

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 3.11%. 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.