Trust Co. of Toledo NA OH Buys 583 Shares of Medtronic plc (NYSE:MDT)

Trust Co. of Toledo NA OH boosted its stake in Medtronic plc (NYSE:MDT) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,763 shares of the medical technology company’s stock after purchasing an additional 583 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Medtronic were worth $1,599,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. LifeSteps Financial Inc. bought a new position in Medtronic in the 1st quarter worth about $27,000. Lynx Investment Advisory bought a new stake in shares of Medtronic during the 2nd quarter valued at about $28,000. Tributary Capital Management LLC bought a new stake in shares of Medtronic during the 1st quarter valued at about $33,000. Riverview Trust Co bought a new stake in shares of Medtronic during the 1st quarter valued at about $39,000. Finally, Fortis Group Advisors LLC boosted its position in shares of Medtronic by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock valued at $38,000 after acquiring an additional 230 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of Medtronic stock opened at $89.10 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. The business’s 50 day simple moving average is $86.39 and its two-hundred day simple moving average is $83.23. The stock has a market capitalization of $114.25 billion, a P/E ratio of 32.40, a price-to-earnings-growth ratio of 2.56 and a beta of 0.84. Medtronic plc has a one year low of $68.84 and a one year high of $91.49.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. 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 previous year, the firm earned $1.20 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.14%. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

Analyst Ratings Changes

A number of analysts have recently issued reports on MDT shares. 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 research report on Thursday, August 15th. Robert W. Baird lifted their price target on Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Citigroup lifted their price target on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Finally, Barclays raised their price objective on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and an average target price of $94.21.

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.