Medtronic plc (NYSE:MDT) Shares Sold by Roffman Miller Associates Inc. PA

Roffman Miller Associates Inc. PA trimmed its stake in Medtronic plc (NYSE:MDT) by 80.9% in the third quarter, HoldingsChannel.com reports. The fund owned 43,993 shares of the medical technology company’s stock after selling 185,865 shares during the quarter. Roffman Miller Associates Inc. PA’s holdings in Medtronic were worth $3,961,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in MDT. Aspire Private Capital LLC raised its holdings in shares of Medtronic by 11.6% in the second quarter. Aspire Private Capital LLC now owns 1,973 shares of the medical technology company’s stock worth $155,000 after acquiring an additional 205 shares during the last quarter. Dynamic Advisor Solutions LLC increased its stake in Medtronic by 9.0% in the second quarter. Dynamic Advisor Solutions LLC now owns 33,565 shares of the medical technology company’s stock valued at $2,642,000 after purchasing an additional 2,783 shares during the last quarter. Wedmont Private Capital increased its stake in Medtronic by 14.3% in the second quarter. Wedmont Private Capital now owns 4,341 shares of the medical technology company’s stock valued at $338,000 after purchasing an additional 543 shares during the last quarter. Foguth Wealth Management LLC. increased its stake in Medtronic by 53.5% in the second quarter. Foguth Wealth Management LLC. now owns 4,256 shares of the medical technology company’s stock valued at $335,000 after purchasing an additional 1,483 shares during the last quarter. Finally, Dakota Community Bank & Trust NA increased its stake in Medtronic by 5.6% in the second quarter. Dakota Community Bank & Trust NA now owns 3,494 shares of the medical technology company’s stock valued at $275,000 after purchasing an additional 184 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on MDT. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Piper Sandler upped their target price on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Daiwa America raised Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine 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, Medtronic presently has a consensus rating of “Hold” and an average price target of $95.27.

Medtronic Price Performance

Shares of NYSE MDT opened at $84.01 on Monday. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68. The business has a 50-day moving average of $88.25 and a 200-day moving average of $84.99. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The company has a market capitalization of $107.73 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 2.38 and a beta of 0.82.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 earnings per share. On average, equities analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

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.