jvl associates llc Has $286,000 Holdings in Medtronic plc (NYSE:MDT)

jvl associates llc cut its position in Medtronic plc (NYSE:MDT) by 9.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,182 shares of the medical technology company’s stock after selling 351 shares during the quarter. jvl associates llc’s holdings in Medtronic were worth $286,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MDT. J. W. Coons Advisors LLC bought a new stake in shares of Medtronic during the 4th quarter valued at approximately $210,000. First Trust Advisors LP lifted its stake in shares of Medtronic by 2.4% in the 4th quarter. First Trust Advisors LP now owns 1,106,515 shares of the medical technology company’s stock valued at $91,155,000 after acquiring an additional 26,023 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new position in shares of Medtronic in the 4th quarter valued at $16,280,000. Cibc World Markets Corp raised its position in Medtronic by 11.6% in the fourth quarter. Cibc World Markets Corp now owns 171,259 shares of the medical technology company’s stock valued at $14,108,000 after purchasing an additional 17,787 shares during the last quarter. Finally, Vinva Investment Management Ltd boosted its stake in shares of Medtronic by 18.0% during the fourth quarter. Vinva Investment Management Ltd now owns 46,384 shares of the medical technology company’s stock valued at $3,837,000 after purchasing an additional 7,074 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Up 0.6 %

Shares of NYSE:MDT traded up $0.49 during mid-day trading on Friday, hitting $88.26. The company had a trading volume of 3,598,515 shares, compared to its average volume of 6,355,535. The company has a market capitalization of $113.17 billion, a PE ratio of 31.95, a price-to-earnings-growth 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 has a fifty day moving average price of $86.58 and a 200 day moving average price of $83.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03. The firm 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%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 earnings per share. As a group, research analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a $0.70 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.17%. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MDT shares. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Tuesday, August 20th. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. Oppenheimer raised their target price on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 21st. Truist Financial upped their price target on Medtronic from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Finally, Barclays increased their price target on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus target price of $94.21.

About Medtronic

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.