Medtronic plc (NYSE:MDT) Shares Sold by Capital Investment Advisors LLC

Capital Investment Advisors LLC cut its holdings in Medtronic plc (NYSE:MDT) by 5.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 10,076 shares of the medical technology company’s stock after selling 556 shares during the period. Capital Investment Advisors LLC’s holdings in Medtronic were worth $907,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Lynx Investment Advisory purchased a new position in shares of Medtronic in the 2nd quarter worth about $28,000. Tributary Capital Management LLC purchased a new stake in Medtronic during the 1st quarter worth $33,000. Riverview Trust Co acquired a new stake in Medtronic in the 1st quarter valued at $39,000. Gleason Group Inc. purchased a new position in Medtronic in the second quarter valued at about $42,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Medtronic during the second quarter worth approximately $43,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MDT. Citigroup boosted their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Stifel Nicolaus boosted their price objective on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Wells Fargo & Company raised their target price on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Tuesday, August 20th. Finally, Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $95.36.

Medtronic Stock Performance

Shares of Medtronic stock opened at $92.24 on Monday. The firm has a fifty day moving average of $88.45 and a two-hundred day moving average of $83.58. The stock has a market capitalization 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 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 52 week low of $68.84 and a 52 week high of $92.25.

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 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 company had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. During the same quarter in the previous year, the business earned $1.20 EPS. The firm’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts predict that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.04%. Medtronic’s 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.