Medtronic plc (NYSE:MDT) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. reduced its position in Medtronic plc (NYSE:MDT) by 1.1% in the 2nd quarter, Holdings Channel reports. The firm owned 73,129 shares of the medical technology company’s stock after selling 790 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Medtronic were worth $5,756,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC acquired a new stake in Medtronic in the 4th quarter valued at about $220,000. Jump Financial LLC increased its stake in shares of Medtronic by 109.2% in the 4th quarter. Jump Financial LLC now owns 6,256 shares of the medical technology company’s stock worth $515,000 after acquiring an additional 3,266 shares during the last quarter. Hillsdale Investment Management Inc. raised its holdings in shares of Medtronic by 152.1% during the 4th quarter. Hillsdale Investment Management Inc. now owns 3,431 shares of the medical technology company’s stock worth $283,000 after acquiring an additional 2,070 shares during the period. Sachetta LLC acquired a new position in shares of Medtronic during the 4th quarter valued at about $90,000. Finally, D.A. Davidson & CO. increased its position in Medtronic by 3.1% during the fourth quarter. D.A. Davidson & CO. now owns 163,400 shares of the medical technology company’s stock worth $13,461,000 after purchasing an additional 4,904 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.1 %

Shares of NYSE:MDT opened at $90.11 on Tuesday. The company has a market cap of $115.55 billion, a PE ratio of 32.77, a P/E/G ratio of 2.57 and a beta of 0.84. The company’s 50 day moving average is $83.86 and its two-hundred day moving average is $82.84. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $91.49. 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 (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, beating analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. Medtronic’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $1.20 earnings per share. Equities analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.11%. Medtronic’s dividend payout ratio is currently 101.82%.

Analyst Ratings Changes

Several research firms have weighed in on MDT. Truist Financial boosted their target price on shares of Medtronic from $85.00 to $90.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Barclays lifted their target price on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Citigroup cut their price objective on Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Oppenheimer upped their target price on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company lifted their price target on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $92.92.

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.