Medtronic plc (NYSE:MDT) Shares Sold by Cypress Wealth Services LLC

Cypress Wealth Services LLC cut its stake in Medtronic plc (NYSE:MDT) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,545 shares of the medical technology company’s stock after selling 128 shares during the period. Cypress Wealth Services LLC’s holdings in Medtronic were worth $589,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. First PREMIER Bank increased its holdings in shares of Medtronic by 1.8% during the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after purchasing an additional 116 shares during the period. Boyar Asset Management Inc. increased its holdings in shares of Medtronic by 2.6% during the fourth 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 during the period. Quent Capital LLC boosted its stake in Medtronic by 8.0% during 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 boosted its stake in Medtronic by 2.5% during the first quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock valued at $446,000 after buying an additional 125 shares in the last quarter. Finally, Waterway Wealth Management LLC boosted its stake in Medtronic by 4.8% during the second quarter. Waterway Wealth Management LLC now owns 2,759 shares of the medical technology company’s stock valued at $217,000 after buying an additional 126 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Up 1.0 %

Shares of MDT traded up $0.91 during midday trading on Thursday, reaching $89.26. 318,375 shares of the stock were exchanged, compared to its average volume of 6,284,478. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $91.49. The firm has a 50 day simple moving average of $87.22 and a 200-day simple moving average of $83.38. 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 company has a market cap of $114.46 billion, a price-to-earnings ratio of 32.13, a P/E/G ratio of 2.56 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share 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 company had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. During the same period last year, the business earned $1.20 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. Research analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared 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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Daiwa America raised Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Tuesday, August 20th. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and increased their price target for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. Stifel Nicolaus increased their price target on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $98.00 to $105.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned 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, the company presently has a consensus rating of “Hold” and an average price target of $95.14.

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.