CENTRAL TRUST Co Buys 342 Shares of Medtronic plc (NYSE:MDT)

CENTRAL TRUST Co increased its stake in Medtronic plc (NYSE:MDT) by 3.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,076 shares of the medical technology company’s stock after purchasing an additional 342 shares during the quarter. CENTRAL TRUST Co’s holdings in Medtronic were worth $907,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Lynx Investment Advisory acquired a new stake in shares of Medtronic in the second quarter valued at about $28,000. Tributary Capital Management LLC bought a new position in Medtronic in the 1st quarter worth approximately $33,000. Gleason Group Inc. bought a new position in Medtronic in the 2nd quarter worth approximately $42,000. Opal Wealth Advisors LLC acquired a new position in shares of Medtronic during the second quarter worth approximately $43,000. Finally, Olistico Wealth LLC bought a new stake in shares of Medtronic in the second quarter valued at approximately $45,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Down 0.4 %

Shares of NYSE MDT opened at $90.59 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $92.68. The company’s fifty day moving average is $89.18 and its 200-day moving average is $83.79. The stock has a market cap of $116.18 billion, a price-to-earnings ratio of 30.60, a P/E/G ratio of 2.60 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted 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. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. During the same period in the previous year, the company posted $1.20 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts predict that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors 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 dividend on an annualized basis and a yield of 3.09%. Medtronic’s payout ratio is 94.59%.

Analyst Ratings Changes

Several equities analysts recently commented on MDT shares. 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. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. UBS Group upgraded 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. Citigroup boosted their price objective on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Finally, Oppenheimer raised their target price on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Medtronic currently has an average rating of “Hold” and an average price target of $95.36.

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.