Dudley Capital Management LLC Has $1.38 Million Stake in Medtronic plc (NYSE:MDT)

Dudley Capital Management LLC reduced its position in shares of Medtronic plc (NYSE:MDT) by 2.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 15,317 shares of the medical technology company’s stock after selling 324 shares during the quarter. Dudley Capital Management LLC’s holdings in Medtronic were worth $1,379,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MDT. Fortitude Family Office LLC bought a new stake in shares of Medtronic in the third quarter valued at about $27,000. Highline Wealth Partners LLC bought a new stake in Medtronic in the 3rd quarter valued at about $27,000. Lynx Investment Advisory acquired a new position in shares of Medtronic during the 2nd quarter worth approximately $28,000. Gleason Group Inc. bought a new position in shares of Medtronic during the second quarter worth approximately $42,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Medtronic in the second quarter valued at approximately $43,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Price Performance

Shares of MDT opened at $88.12 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 business’s 50 day moving average price is $89.69 and its two-hundred day moving average price is $84.38. The firm has a market cap of $113.01 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 2.55 and a beta of 0.84. Medtronic plc has a 52-week low of $69.32 and a 52-week high of $92.68.

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

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.18%. Medtronic’s dividend payout ratio (DPR) is currently 94.59%.

Wall Street Analyst Weigh In

MDT has been the subject of a number of recent analyst reports. Robert W. Baird upped their target price on Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Piper Sandler upped their price target on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Barclays lifted their price objective on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Citigroup upped their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and a consensus price target of $95.36.

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.