Mount Yale Investment Advisors LLC Sells 3,107 Shares of Medtronic plc (NYSE:MDT)

Mount Yale Investment Advisors LLC lessened its position in Medtronic plc (NYSE:MDT) by 31.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,906 shares of the medical technology company’s stock after selling 3,107 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Medtronic were worth $622,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Lynx Investment Advisory purchased a new position in shares of Medtronic during the 2nd quarter valued at about $28,000. Tributary Capital Management LLC purchased a new stake in shares of Medtronic in the 1st quarter valued at $33,000. Gleason Group Inc. bought a new position in shares of Medtronic during the 2nd quarter valued at $42,000. Opal Wealth Advisors LLC purchased a new position in Medtronic in the 2nd quarter worth $43,000. Finally, Olistico Wealth LLC bought a new stake in Medtronic in the second quarter worth $45,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the topic of several analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Friday. Barclays boosted their price objective on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Citigroup raised their target price on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. 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 report on Thursday, August 15th. Finally, Piper Sandler raised their price target on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Medtronic has an average rating of “Hold” and an average price target of $95.36.

Medtronic Stock Down 0.4 %

MDT stock opened at $90.59 on Friday. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.68. The company has a market capitalization of $116.18 billion, a price-to-earnings ratio of 30.60, a price-to-earnings-growth ratio of 2.60 and a beta of 0.84. The business’s 50 day moving average price is $89.30 and its two-hundred day moving average price is $83.84. 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 (NYSE:MDT) last released its quarterly earnings results 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 company had revenue of $7.97 billion for 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 firm’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. As a group, analysts forecast that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.70 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.09%. Medtronic’s payout ratio is 94.59%.

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.