Lindbrook Capital LLC Sells 239 Shares of Medtronic plc (NYSE:MDT)

Lindbrook Capital LLC lessened its holdings in Medtronic plc (NYSE:MDT) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,970 shares of the medical technology company’s stock after selling 239 shares during the period. Lindbrook Capital LLC’s holdings in Medtronic were worth $718,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. M&G Plc purchased a new position in shares of Medtronic during the 1st quarter worth $259,160,000. Capital Research Global Investors lifted its position in Medtronic by 7.1% during the first quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after purchasing an additional 2,044,109 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Medtronic by 1,195.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock valued at $144,637,000 after purchasing an additional 1,695,800 shares during the period. International Assets Investment Management LLC increased its position in Medtronic by 8,908.6% in the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock worth $116,896,000 after buying an additional 1,284,002 shares in the last quarter. Finally, Troy Asset Management Ltd bought a new position in shares of Medtronic in the second quarter worth about $85,440,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE:MDT opened at $87.72 on Friday. The company has a market capitalization of $112.50 billion, a P/E ratio of 29.64, a P/E/G ratio of 2.58 and a beta of 0.84. The business’s 50-day moving average is $89.68 and its 200 day moving average is $84.46. 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 plc has a 12 month low of $69.32 and a 12 month high of $92.68.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 prior year, the firm earned $1.20 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities research analysts forecast that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.70 dividend. 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 3.19%. Medtronic’s dividend payout ratio (DPR) is presently 94.59%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MDT. Oppenheimer boosted their price objective on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. 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. Citigroup upped their target price on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Friday, October 25th. 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.com, Medtronic has a consensus rating of “Hold” and an average 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.