Creative Planning Sells 23,321 Shares of Medtronic plc (NYSE:MDT)

Creative Planning cut its stake in shares of Medtronic plc (NYSE:MDT) by 9.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,740 shares of the medical technology company’s stock after selling 23,321 shares during the period. Creative Planning’s holdings in Medtronic were worth $20,143,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Lynx Investment Advisory purchased a new stake in shares of Medtronic during the 2nd quarter valued at $28,000. Tributary Capital Management LLC purchased a new stake in shares of Medtronic during the 1st quarter valued at $33,000. Riverview Trust Co purchased a new stake in shares of Medtronic during the 1st quarter valued at $39,000. Gleason Group Inc. purchased a new stake in shares of Medtronic during the 2nd quarter valued at $42,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Medtronic during the 2nd quarter valued at $43,000. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MDT has been the subject of several research analyst reports. Stifel Nicolaus raised their target price on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Wells Fargo & Company raised their target price on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Evercore ISI raised their target price on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $76.00 to $90.00 in a report on Thursday, August 15th. Finally, Truist Financial lifted their price objective on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $95.36.

Medtronic Stock Down 1.3 %

MDT stock opened at $91.05 on Tuesday. 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 capitalization of $116.75 billion, a PE ratio of 33.11, a PEG ratio of 2.53 and a beta of 0.84. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $92.25. The stock has a 50-day simple moving average of $88.65 and a two-hundred day simple moving average of $83.63.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating 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 return on equity of 13.68% and a net margin of 12.06%. The company’s quarterly 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 EPS. On average, equities analysts predict that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.70 per share. 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 3.08%. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

Medtronic 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.