GSB Wealth Management LLC Sells 4,458 Shares of Medtronic plc (NYSE:MDT)

GSB Wealth Management LLC lowered its stake in shares of Medtronic plc (NYSE:MDTFree Report) by 63.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,600 shares of the medical technology company’s stock after selling 4,458 shares during the quarter. GSB Wealth Management LLC’s holdings in Medtronic were worth $234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC purchased a new stake in Medtronic in the second quarter valued at about $25,643,000. SageView Advisory Group LLC raised its stake in Medtronic by 130.3% in 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 buying an additional 9,523 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Medtronic by 10.0% in the first quarter. Daiwa Securities Group Inc. now owns 135,268 shares of the medical technology company’s stock worth $11,789,000 after purchasing an additional 12,250 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Medtronic by 174.9% in the first quarter. Empowered Funds LLC now owns 74,903 shares of the medical technology company’s stock worth $6,528,000 after purchasing an additional 47,657 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Medtronic by 13.6% in the first quarter. National Bank of Canada FI now owns 261,325 shares of the medical technology company’s stock worth $21,642,000 after purchasing an additional 31,195 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Up 0.3 %

Shares of MDT opened at $90.55 on Thursday. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. Medtronic plc has a 12 month low of $69.32 and a 12 month high of $92.68. The stock’s 50 day moving average is $89.58 and its two-hundred day moving average is $84.03. The firm has a market cap of $116.11 billion, a P/E ratio of 32.93, a PEG ratio of 2.60 and a beta of 0.84.

Medtronic (NYSE:MDTGet Free Report) last issued its quarterly earnings data 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 return on equity of 13.68% and a net margin of 12.06%. The company had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. During the same period last year, the company earned $1.20 earnings per share. Medtronic’s quarterly revenue was up 3.4% compared to the same quarter last year. Analysts predict that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.09%. The ex-dividend date was Friday, September 27th. Medtronic’s payout ratio is currently 101.82%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MDT shares. Wells Fargo & Company raised their price objective on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. Robert W. Baird raised their price objective on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Oppenheimer raised their price objective on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. Finally, Citigroup raised 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.36.

Read Our Latest Stock Report on Medtronic

Medtronic Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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