LaFleur & Godfrey LLC Lowers Holdings in Medtronic plc (NYSE:MDT)

LaFleur & Godfrey LLC reduced its stake in shares of Medtronic plc (NYSE:MDT) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,719 shares of the medical technology company’s stock after selling 2,072 shares during the period. LaFleur & Godfrey LLC’s holdings in Medtronic were worth $4,746,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Leisure Capital Management boosted its holdings in Medtronic by 6.8% in the third quarter. Leisure Capital Management now owns 12,800 shares of the medical technology company’s stock valued at $1,152,000 after acquiring an additional 814 shares during the last quarter. Hummer Financial Advisory Services Inc purchased a new position in shares of Medtronic in the 3rd quarter worth about $214,000. McKinley Carter Wealth Services Inc. lifted its stake in shares of Medtronic by 7.4% in the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 19,548 shares of the medical technology company’s stock valued at $1,760,000 after purchasing an additional 1,348 shares in the last quarter. Sumitomo Life Insurance Co. increased its position in Medtronic by 2.5% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 18,808 shares of the medical technology company’s stock worth $1,693,000 after purchasing an additional 458 shares in the last quarter. Finally, Nexus Investment Management ULC increased its position in Medtronic by 0.5% during the 3rd quarter. Nexus Investment Management ULC now owns 217,424 shares of the medical technology company’s stock worth $19,575,000 after purchasing an additional 1,050 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Up 0.3 %

MDT traded up $0.29 during trading on Wednesday, hitting $90.13. The company had a trading volume of 1,381,079 shares, compared to its average volume of 6,242,730. The company has a market cap of $115.57 billion, a PE 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 current ratio of 2.13 and a quick ratio of 1.61. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $91.49. The business has a 50-day moving average of $87.92 and a 200-day moving average of $83.47.

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 net margin of 12.06% and a return on equity of 13.68%. The business had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. During the same quarter last year, the company posted $1.20 earnings per share. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, analysts forecast that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Friday, September 27th. Medtronic’s dividend payout ratio is presently 101.82%.

Analyst Upgrades and Downgrades

MDT has been the subject of several research reports. Piper Sandler boosted their price objective on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Oppenheimer increased their price target on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a report on Wednesday, August 21st. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Citigroup upped their target price on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Finally, Stifel Nicolaus boosted their price target on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.36.

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.