Medtronic plc (NYSE:MDT) Shares Sold by Mattson Financial Services LLC

Mattson Financial Services LLC trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 0.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,670 shares of the medical technology company’s stock after selling 273 shares during the period. Medtronic comprises 1.2% of Mattson Financial Services LLC’s investment portfolio, making the stock its 19th biggest holding. Mattson Financial Services LLC’s holdings in Medtronic were worth $3,571,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Lynx Investment Advisory purchased a new position in Medtronic in the second quarter worth $28,000. Tributary Capital Management LLC acquired a new position in shares of Medtronic during the 1st quarter worth $33,000. Fortis Group Advisors LLC increased its holdings in shares of Medtronic by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock valued at $38,000 after purchasing an additional 230 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of Medtronic in the first quarter valued at about $39,000. Finally, Gleason Group Inc. acquired a new stake in shares of Medtronic in the second quarter valued at about $42,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Barclays increased their target price on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and raised their price objective for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Stifel Nicolaus boosted their target price on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Evercore ISI raised their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, Citigroup boosted their price objective on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $94.64.

Medtronic Stock Up 1.3 %

Shares of NYSE MDT opened at $88.14 on Wednesday. The firm has a market cap of $113.02 billion, a P/E ratio of 32.05, a price-to-earnings-growth ratio of 2.56 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 1 year low of $68.84 and a 1 year high of $91.49. The firm’s 50 day moving average price is $86.91 and its 200 day moving average price is $83.31.

Medtronic (NYSE:MDT) last announced 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. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The business had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. During the same quarter in the previous year, the business earned $1.20 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.18%. Medtronic’s payout ratio is currently 101.82%.

Medtronic 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.