Godsey & Gibb Inc. Acquires 20,216 Shares of Medtronic plc (NYSE:MDT)

Godsey & Gibb Inc. boosted its holdings in Medtronic plc (NYSE:MDT) by 9.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 228,361 shares of the medical technology company’s stock after buying an additional 20,216 shares during the period. Medtronic makes up about 2.0% of Godsey & Gibb Inc.’s investment portfolio, making the stock its 26th largest position. Godsey & Gibb Inc.’s holdings in Medtronic were worth $20,559,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Chemung Canal Trust Co. raised its stake in Medtronic by 1,467.5% during the 1st quarter. Chemung Canal Trust Co. now owns 47,902 shares of the medical technology company’s stock valued at $4,175,000 after purchasing an additional 44,846 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Medtronic in the 2nd quarter valued at approximately $25,643,000. SageView Advisory Group LLC increased its position in shares of Medtronic by 130.3% during the first quarter. SageView Advisory Group LLC now owns 16,829 shares of the medical technology company’s stock valued at $1,467,000 after purchasing an additional 9,523 shares during the period. Daiwa Securities Group Inc. boosted its stake in Medtronic by 10.0% during the first quarter. Daiwa Securities Group Inc. now owns 135,268 shares of the medical technology company’s stock worth $11,789,000 after buying an additional 12,250 shares in the last quarter. Finally, Burns J W & Co. Inc. NY increased its holdings in Medtronic by 17.4% in the 1st quarter. Burns J W & Co. Inc. NY now owns 3,276 shares of the medical technology company’s stock valued at $286,000 after buying an additional 486 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Tuesday, August 20th. Stifel Nicolaus raised their price target on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Citigroup upped their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Barclays raised their target price on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and an average price target of $95.36.

Medtronic Stock Up 2.7 %

Shares of NYSE:MDT opened at $92.24 on Monday. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The firm has a market cap of $118.28 billion, a P/E ratio of 33.54, a P/E/G ratio of 2.53 and a beta of 0.84. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $92.25. The company’s 50-day moving average price is $88.45 and its two-hundred day moving average price is $83.58.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. During the same period in the prior year, the firm earned $1.20 earnings per share. Medtronic’s revenue was up 3.4% compared to the same quarter last year. As a group, research analysts forecast that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.04%. Medtronic’s payout ratio is currently 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.