Medtronic plc (NYSE:MDT) Shares Sold by Appleton Partners Inc. MA

Appleton Partners Inc. MA decreased its holdings in Medtronic plc (NYSE:MDT) by 4.6% in the third quarter, Holdings Channel reports. The fund owned 34,202 shares of the medical technology company’s stock after selling 1,665 shares during the period. Appleton Partners Inc. MA’s holdings in Medtronic were worth $3,079,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. LifeSteps Financial Inc. purchased a new stake in shares of Medtronic in the 1st quarter valued at approximately $27,000. Lynx Investment Advisory purchased a new position in shares of Medtronic during the 2nd quarter worth approximately $28,000. Tributary Capital Management LLC purchased a new position in shares of Medtronic during the 1st quarter worth approximately $33,000. Fortis Group Advisors LLC boosted its position in shares of Medtronic by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 230 shares during the period. Finally, Riverview Trust Co purchased a new position in shares of Medtronic during the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Piper Sandler raised their price target on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Robert W. Baird raised their price target on shares of Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Citigroup raised their price target on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday. Oppenheimer raised 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. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $94.21.

Medtronic Trading Down 1.0 %

NYSE MDT opened at $89.10 on Thursday. 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 firm has a market cap of $114.25 billion, a PE ratio of 32.40, a P/E/G ratio of 2.56 and a beta of 0.84. Medtronic plc has a one year low of $68.84 and a one year high of $91.49. The firm’s fifty day moving average is $86.39 and its two-hundred day moving average is $83.23.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. Medtronic’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.20 earnings per share. Analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Friday, September 27th. 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.