Medtronic plc (NYSE:MDT) Shares Sold by Haverford Trust Co

Haverford Trust Co lessened its position in Medtronic plc (NYSE:MDT) by 17.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,117,590 shares of the medical technology company’s stock after selling 233,630 shares during the period. Haverford Trust Co’s holdings in Medtronic were worth $100,617,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GSA Capital Partners LLP increased its holdings in shares of Medtronic by 73.0% in the 1st quarter. GSA Capital Partners LLP now owns 4,945 shares of the medical technology company’s stock valued at $431,000 after purchasing an additional 2,086 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Medtronic by 1.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 781,261 shares of the medical technology company’s stock valued at $68,087,000 after purchasing an additional 8,141 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Medtronic by 0.3% in the 1st quarter. TD Asset Management Inc now owns 1,037,061 shares of the medical technology company’s stock valued at $90,380,000 after purchasing an additional 2,847 shares in the last quarter. SageView Advisory Group LLC increased its holdings in shares of Medtronic by 130.3% in the 1st 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 in the last quarter. Finally, Managed Asset Portfolios LLC increased its holdings in shares of Medtronic by 0.9% in the 1st quarter. Managed Asset Portfolios LLC now owns 247,526 shares of the medical technology company’s stock valued at $21,572,000 after purchasing an additional 2,320 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Wells Fargo & Company raised their target price on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Oppenheimer raised their target price on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a report on Wednesday, August 21st. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Evercore ISI raised their target price on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, Citigroup raised their target price on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $95.36.

Medtronic Trading Down 0.0 %

MDT opened at $88.25 on Wednesday. The firm has a market capitalization of $113.18 billion, a P/E ratio of 29.81, a P/E/G ratio of 2.52 and a beta of 0.84. The firm’s 50 day moving average is $89.67 and its 200-day moving average is $84.57. Medtronic plc has a 52-week low of $71.64 and a 52-week high of $92.68. 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 (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The business had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 earnings per share. Analysts expect that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Announces Dividend

The business 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 of this dividend was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.17%. Medtronic’s dividend payout ratio (DPR) is presently 94.59%.

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.