Dumont & Blake Investment Advisors LLC Lowers Stock Position in Medtronic plc (NYSE:MDT)

Dumont & Blake Investment Advisors LLC cut its position in Medtronic plc (NYSE:MDT) by 50.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,815 shares of the medical technology company’s stock after selling 10,991 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Medtronic were worth $974,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MDT. Chemung Canal Trust Co. boosted its position 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 period. Manning & Napier Advisors LLC acquired a new stake in shares of Medtronic in the second quarter valued at approximately $25,643,000. SageView Advisory Group LLC grew its stake in shares of Medtronic by 130.3% in the first quarter. SageView Advisory Group LLC now owns 16,829 shares of the medical technology company’s stock worth $1,467,000 after purchasing an additional 9,523 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in 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 period. Finally, Burns J W & Co. Inc. NY increased its position in shares of Medtronic by 17.4% during 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 purchasing an additional 486 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDT has been the topic of several research reports. Wells Fargo & Company boosted their price target on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Evercore ISI boosted their target price on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and lifted their price target for the company from $76.00 to $90.00 in a report on Thursday, August 15th. Robert W. Baird increased 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. Finally, Stifel Nicolaus lifted their target price on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $95.36.

Medtronic Trading Up 0.0 %

NYSE MDT traded up $0.01 during trading on Friday, reaching $91.00. 124,038 shares of the stock traded hands, compared to its average volume of 6,199,413. 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 $116.69 billion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84. The stock’s 50-day moving average price is $89.04 and its 200 day moving average price is $83.74. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.68.

Medtronic (NYSE:MDT) last issued 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 return on equity of 13.68% and a net margin of 12.06%. The firm had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. During the same period in the prior year, the firm posted $1.20 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. Analysts predict that Medtronic plc will post 5.44 EPS for the current 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 issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio is currently 101.82%.

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.