Medtronic plc (NYSE:MDT) Shares Sold by Proquility Private Wealth Partners LLC

Proquility Private Wealth Partners LLC trimmed its holdings in Medtronic plc (NYSE:MDT) by 0.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,926 shares of the medical technology company’s stock after selling 347 shares during the quarter. Medtronic makes up about 1.2% of Proquility Private Wealth Partners LLC’s holdings, making the stock its 25th biggest position. Proquility Private Wealth Partners LLC’s holdings in Medtronic were worth $3,865,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lynx Investment Advisory purchased a new position in shares of Medtronic in the 2nd quarter valued at approximately $28,000. Tributary Capital Management LLC acquired a new position in Medtronic in the 1st quarter valued at $33,000. Riverview Trust Co purchased a new position in Medtronic during the 1st quarter worth $39,000. Gleason Group Inc. acquired a new stake in shares of Medtronic in the 2nd quarter worth $42,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Medtronic in the second quarter valued at about $43,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $89.63 on Wednesday. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The company has a market cap of $114.93 billion, a PE ratio of 32.67, a P/E/G ratio of 2.53 and a beta of 0.84. The company’s fifty day simple moving average is $87.92 and its 200-day simple moving average is $83.47. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $91.49.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. The company had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 earnings per share. As a group, equities research analysts anticipate that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Announces Dividend

The business 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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s payout ratio is currently 101.82%.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on shares of 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 raised their price target for the company from $76.00 to $90.00 in a report on Thursday, August 15th. Wells Fargo & Company upped their price objective on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Barclays boosted their target price on shares of Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.36.

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.