Medtronic plc (NYSE:MDT) Shares Sold by Applied Capital LLC FL

Applied Capital LLC FL decreased its holdings in Medtronic plc (NYSE:MDT) by 3.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,165 shares of the medical technology company’s stock after selling 197 shares during the quarter. Applied Capital LLC FL’s holdings in Medtronic were worth $555,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MDT. Lynx Investment Advisory acquired a new position in shares of Medtronic during the second quarter valued at about $28,000. Tributary Capital Management LLC purchased a new position in shares of Medtronic in the first quarter worth $33,000. Riverview Trust Co acquired a new stake in shares of Medtronic during the first quarter worth $39,000. Gleason Group Inc. purchased a new stake in shares of Medtronic during the second quarter valued at $42,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Medtronic in the 2nd quarter valued at $43,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Down 0.2 %

Shares of MDT opened at $89.84 on Wednesday. The stock has a fifty day simple moving average of $87.92 and a two-hundred day simple moving average of $83.47. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $115.20 billion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $91.49.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. 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 firm earned $1.20 earnings per share. Medtronic’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts forecast that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date was Friday, September 27th. Medtronic’s payout ratio is 101.82%.

Wall Street Analyst Weigh In

A number of brokerages have commented on MDT. Wells Fargo & Company lifted their price target on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Robert W. Baird lifted their price objective on shares of Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Barclays lifted their price objective on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Tuesday, August 20th. One investment 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 company’s stock. According to data from MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and a consensus target price of $95.36.

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.