Dudley Capital Management LLC Sells 324 Shares of Medtronic plc (NYSE:MDT)

Dudley Capital Management LLC decreased its stake in Medtronic plc (NYSE:MDT) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,317 shares of the medical technology company’s stock after selling 324 shares during the quarter. Dudley Capital Management LLC’s holdings in Medtronic were worth $1,379,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new position in shares of Medtronic in the 2nd quarter worth approximately $25,643,000. SageView Advisory Group LLC boosted its holdings in Medtronic by 130.3% in the first quarter. SageView Advisory Group LLC now owns 16,829 shares of the medical technology company’s stock valued at $1,467,000 after acquiring an additional 9,523 shares during the last quarter. Empowered Funds LLC grew its position in shares of Medtronic by 174.9% during the 1st quarter. Empowered Funds LLC now owns 74,903 shares of the medical technology company’s stock worth $6,528,000 after buying an additional 47,657 shares during the period. National Bank of Canada FI grew its holdings in Medtronic by 13.6% during the 1st quarter. National Bank of Canada FI now owns 261,325 shares of the medical technology company’s stock worth $21,642,000 after acquiring an additional 31,195 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Medtronic by 6.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 368,682 shares of the medical technology company’s stock worth $29,019,000 after purchasing an additional 21,995 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 2.2 %

Medtronic stock opened at $88.12 on Friday. The company has a fifty day simple moving average of $89.69 and a 200 day simple moving average of $84.38. 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 1-year low of $69.32 and a 1-year high of $92.68. The company has a market cap of $113.01 billion, a P/E ratio of 29.77, a price-to-earnings-growth ratio of 2.55 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03. The business had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $1.20 earnings per share. Research analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Friday, September 27th. Medtronic’s payout ratio is presently 94.59%.

Analyst Ratings Changes

MDT has been the topic of a number of analyst reports. Wells Fargo & Company increased their price target on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Stifel Nicolaus boosted their price target on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Robert W. Baird raised their price objective on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Piper Sandler boosted 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. Finally, Oppenheimer raised their price target on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average 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.