Peoples Financial Services CORP. Has $394,000 Position in Medtronic plc (NYSE:MDT)

Peoples Financial Services CORP. lessened its position in Medtronic plc (NYSE:MDT) by 8.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,380 shares of the medical technology company’s stock after selling 407 shares during the period. Peoples Financial Services CORP.’s holdings in Medtronic were worth $394,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Lynx Investment Advisory bought a new position in Medtronic in the 2nd quarter valued at about $28,000. Tributary Capital Management LLC bought a new stake in shares of Medtronic during the 1st quarter valued at $33,000. Riverview Trust Co acquired a new stake in shares of Medtronic during the 1st quarter worth $39,000. Gleason Group Inc. bought a new position in shares of Medtronic in the second quarter worth $42,000. Finally, Opal Wealth Advisors LLC acquired a new position in Medtronic in the second quarter valued at about $43,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

MDT traded up $0.27 during midday trading on Wednesday, reaching $90.11. The company had a trading volume of 299,864 shares, compared to its average volume of 6,237,324. The business has a 50-day moving average price of $87.92 and a two-hundred day moving average price of $83.47. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $91.49. The stock has a market cap of $115.55 billion, a PE ratio of 32.67, a P/E/G ratio of 2.53 and a beta of 0.84.

Medtronic (NYSE:MDT) last issued its quarterly earnings data 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. 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 analysts’ expectations of $7.90 billion. During the same quarter in the prior year, the firm posted $1.20 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts expect that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given 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 payout ratio is presently 101.82%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MDT. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Stifel Nicolaus boosted their price target on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Citigroup boosted their target price on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Evercore ISI upped their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, Oppenheimer upped their target price on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company 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.