F M Investments LLC Cuts Stock Holdings in Medtronic plc (NYSE:MDT)

F M Investments LLC reduced its stake in Medtronic plc (NYSE:MDT) by 8.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,033 shares of the medical technology company’s stock after selling 3,392 shares during the quarter. F M Investments LLC’s holdings in Medtronic were worth $3,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of MDT. M&G Plc purchased a new stake in Medtronic during the first quarter valued at about $259,160,000. Capital Research Global Investors raised its holdings in shares of Medtronic by 7.1% during the 1st 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 buying an additional 2,044,109 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Medtronic by 1,195.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock worth $144,637,000 after buying an additional 1,695,800 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Medtronic by 8,908.6% in the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock worth $116,896,000 after buying an additional 1,284,002 shares in the last quarter. Finally, Troy Asset Management Ltd bought a new position in Medtronic during the second quarter valued at approximately $85,440,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MDT shares. Stifel Nicolaus upped their price objective on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and upped their price target for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Citigroup increased their target price on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Finally, Robert W. Baird lifted 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $95.36.

Medtronic Stock Up 0.9 %

Shares of Medtronic stock opened at $90.07 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. Medtronic plc has a 12-month low of $69.32 and a 12-month high of $92.68. The company has a market cap of $115.51 billion, a P/E ratio of 30.43, a PEG ratio of 2.55 and a beta of 0.84. The company’s fifty day simple moving average is $89.64 and its two-hundred day simple moving average is $84.17.

Medtronic (NYSE:MDT) last released its quarterly earnings results 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. The company had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. Medtronic’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.20 earnings per share. Research analysts anticipate that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. Medtronic’s dividend payout ratio (DPR) is 94.59%.

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.