DMC Group LLC Sells 2,767 Shares of Medtronic plc (NYSE:MDT)

DMC Group LLC lowered its holdings in Medtronic plc (NYSE:MDT) by 33.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,520 shares of the medical technology company’s stock after selling 2,767 shares during the quarter. DMC Group LLC’s holdings in Medtronic were worth $497,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MDT. Capital Research Global Investors raised its holdings in shares of Medtronic by 7.1% during the first quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after acquiring an additional 2,044,109 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of Medtronic by 8.3% in the 2nd quarter. Pzena Investment Management LLC now owns 8,307,123 shares of the medical technology company’s stock worth $653,854,000 after purchasing an additional 637,931 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Medtronic by 7.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock worth $560,494,000 after purchasing an additional 515,751 shares during the period. Longview Partners Guernsey LTD increased its position in shares of Medtronic by 2.3% during the first quarter. Longview Partners Guernsey LTD now owns 6,635,054 shares of the medical technology company’s stock valued at $578,245,000 after buying an additional 147,737 shares during the period. Finally, Raymond James & Associates raised its stake in Medtronic by 2.3% in the third quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock worth $575,460,000 after buying an additional 145,504 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MDT. Citigroup lifted their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Robert W. Baird upped their price target on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Barclays raised their price objective on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and upped their target price for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Finally, Oppenheimer lifted their price target on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and a consensus price target of $95.36.

Medtronic Trading Up 2.7 %

NYSE:MDT opened at $92.24 on Friday. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $92.25. The stock has a market cap of $118.28 billion, a price-to-earnings ratio of 33.54, a PEG ratio of 2.53 and a beta of 0.84. The company’s 50 day moving average price is $88.45 and its 200-day moving average price is $83.59. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55.

Medtronic (NYSE:MDT) last announced 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. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The firm had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. During the same quarter last year, the firm posted $1.20 EPS. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts forecast that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced 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 3.04%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio is 101.82%.

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.