Medtronic plc (NYSE:MDT) Shares Sold by Constitution Capital LLC

by · The Cerbat Gem

Constitution Capital LLC decreased its stake in shares of Medtronic plc (NYSE:MDT – Free Report) by 20.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,800 shares of the medical technology company’s stock after selling 700 shares during the period. Constitution Capital LLC’s holdings in Medtronic were worth $252,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. ORG Wealth Partners LLC acquired a new position in Medtronic during the third quarter worth approximately $234,000. Procyon Advisors LLC increased its position in Medtronic by 8.9% during the third quarter. Procyon Advisors LLC now owns 16,402 shares of the medical technology company’s stock worth $1,476,000 after purchasing an additional 1,335 shares during the last quarter. Paladin Wealth LLC acquired a new position in Medtronic during the third quarter worth approximately $789,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Medtronic by 18.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 12,179 shares of the medical technology company’s stock worth $1,096,000 after acquiring an additional 1,903 shares in the last quarter. Finally, Woodstock Corp increased its position in shares of Medtronic by 1.2% in the third quarter. Woodstock Corp now owns 132,093 shares of the medical technology company’s stock worth $11,892,000 after acquiring an additional 1,506 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MDT shares. Oppenheimer increased their price objective on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 21st. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $98.00 to $105.00 in a research report on Thursday. Barclays upped their target price on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Tuesday, August 20th. Finally, Stifel Nicolaus upped their target price on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Medtronic presently has an average rating of “Hold” and a consensus price target of $95.36.

Get Our Latest Analysis on MDT

Medtronic Stock Performance

Shares of Medtronic stock traded up $0.16 during trading hours on Monday, reaching $89.52. The company’s stock had a trading volume of 502,183 shares, compared to its average volume of 6,260,301. The company’s 50 day simple moving average is $87.54 and its 200 day simple moving average is $83.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. Medtronic plc has a one year low of $68.84 and a one year high of $91.49. The stock has a market cap of $114.79 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84.

Medtronic (NYSE:MDT – Get Free Report) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. During the same quarter last year, the company earned $1.20 EPS. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, analysts expect that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.13%. Medtronic’s payout ratio is 101.82%.

Medtronic Profile

(Free Report)

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.

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