Osher Van de Voorde Investment Management Sells 550 Shares of Medtronic plc (NYSE:MDT)

Osher Van de Voorde Investment Management lessened its stake in Medtronic plc (NYSE:MDT) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 207,515 shares of the medical technology company’s stock after selling 550 shares during the quarter. Medtronic makes up approximately 4.0% of Osher Van de Voorde Investment Management’s portfolio, making the stock its 15th biggest holding. Osher Van de Voorde Investment Management’s holdings in Medtronic were worth $18,683,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Boyar Asset Management Inc. lifted its holdings in shares of Medtronic by 2.6% during the 4th quarter. Boyar Asset Management Inc. now owns 4,655 shares of the medical technology company’s stock valued at $383,000 after buying an additional 120 shares during the period. Quent Capital LLC increased its stake in shares of Medtronic by 8.0% in the 1st quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock worth $146,000 after purchasing an additional 125 shares in the last quarter. Abbrea Capital LLC increased its stake in shares of Medtronic by 2.5% in the 1st quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock worth $446,000 after purchasing an additional 125 shares in the last quarter. Waterway Wealth Management LLC increased its stake in shares of Medtronic by 4.8% in the 2nd quarter. Waterway Wealth Management LLC now owns 2,759 shares of the medical technology company’s stock worth $217,000 after purchasing an additional 126 shares in the last quarter. Finally, Americana Partners LLC increased its stake in shares of Medtronic by 2.0% in the 2nd quarter. Americana Partners LLC now owns 6,667 shares of the medical technology company’s stock worth $525,000 after purchasing an additional 128 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 1.3 %

Shares of Medtronic stock opened at $88.14 on Wednesday. The firm has a market cap of $113.02 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 2.56 and a beta of 0.84. The business has a 50-day moving average price of $87.06 and a 200-day moving average price of $83.35. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.49.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The firm had revenue of $7.97 billion during 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 business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 earnings per share. Equities research analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Friday, September 27th. Medtronic’s payout ratio is 101.82%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MDT. Truist Financial upped their price objective on Medtronic from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Citigroup upped their price objective on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Royal Bank of Canada upped their price objective on Medtronic from $92.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Piper Sandler increased their price target on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Finally, Oppenheimer increased their price target on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and a consensus target price of $94.64.

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.