Medtronic plc (NYSE:MDT) is Armstrong Henry H Associates Inc.’s 10th Largest Position

Armstrong Henry H Associates Inc. trimmed its holdings in Medtronic plc (NYSE:MDT) by 5.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,329 shares of the medical technology company’s stock after selling 8,374 shares during the period. Medtronic comprises about 1.2% of Armstrong Henry H Associates Inc.’s investment portfolio, making the stock its 10th biggest position. Armstrong Henry H Associates Inc.’s holdings in Medtronic were worth $12,454,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Boyar Asset Management Inc. boosted its holdings in Medtronic by 2.6% in the 4th quarter. Boyar Asset Management Inc. now owns 4,655 shares of the medical technology company’s stock valued at $383,000 after purchasing an additional 120 shares in the last quarter. Quent Capital LLC increased its position in shares of Medtronic by 8.0% in the first quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock valued at $146,000 after buying an additional 125 shares in the last quarter. Abbrea Capital LLC raised its stake in shares of Medtronic by 2.5% during the 1st quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock worth $446,000 after buying an additional 125 shares during the last quarter. Waterway Wealth Management LLC boosted its position 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 buying an additional 126 shares in the last quarter. Finally, Angeles Investment Advisors LLC grew its stake in Medtronic by 1.0% in the 4th quarter. Angeles Investment Advisors LLC now owns 12,627 shares of the medical technology company’s stock valued at $1,046,000 after acquiring an additional 128 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on MDT shares. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and upped their price target for the company from $76.00 to $90.00 in a report on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Tuesday, August 20th. Evercore ISI lifted their price objective on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday. Oppenheimer lifted their price target on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a report on Wednesday, August 21st. Finally, Daiwa America raised shares of Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Medtronic presently has an average rating of “Hold” and an average price target of $94.21.

Medtronic Price Performance

MDT opened at $89.10 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 1 year low of $68.84 and a 1 year high of $91.49. The stock has a fifty day moving average price of $86.39 and a 200 day moving average price of $83.23. The stock has a market cap of $114.25 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 2.56 and a beta of 0.84.

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 analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $7.97 billion for 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 company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 earnings per share. Analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, September 27th. Medtronic’s dividend payout ratio is 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.