Medtronic plc (NYSE:MDT) Stake Cut by ORG Partners LLC

ORG Partners LLC decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 45.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,197 shares of the medical technology company’s stock after selling 1,806 shares during the period. ORG Partners LLC’s holdings in Medtronic were worth $198,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Chemung Canal Trust Co. grew its holdings in shares of Medtronic by 1,467.5% during the first quarter. Chemung Canal Trust Co. now owns 47,902 shares of the medical technology company’s stock valued at $4,175,000 after purchasing an additional 44,846 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in Medtronic in the second quarter worth $25,643,000. SageView Advisory Group LLC lifted its stake in Medtronic by 130.3% in the first quarter. SageView Advisory Group LLC now owns 16,829 shares of the medical technology company’s stock valued at $1,467,000 after buying an additional 9,523 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Medtronic by 10.0% during the first quarter. Daiwa Securities Group Inc. now owns 135,268 shares of the medical technology company’s stock valued at $11,789,000 after acquiring an additional 12,250 shares during the period. Finally, Burns J W & Co. Inc. NY grew its position in shares of Medtronic by 17.4% during the first quarter. Burns J W & Co. Inc. NY now owns 3,276 shares of the medical technology company’s stock worth $286,000 after acquiring an additional 486 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MDT shares. Stifel Nicolaus lifted their price objective on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Wells Fargo & Company boosted their price objective on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Barclays raised their target price on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Finally, Citigroup raised their price target on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. 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’s stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus target price of $95.36.

Medtronic Trading Down 0.2 %

Shares of NYSE:MDT opened at $89.84 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The stock has a market capitalization of $115.20 billion, a price-to-earnings ratio of 32.67, a PEG ratio of 2.53 and a beta of 0.84. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $91.49. The company has a 50 day moving average price of $87.92 and a 200 day moving average price of $83.47.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. The business had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company posted $1.20 EPS. On average, research analysts anticipate that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders 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 annualized dividend and a yield of 3.12%. Medtronic’s payout ratio is presently 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.