Continental Investors Services Inc. Takes Position in Medtronic plc (NYSE:MDT)

Continental Investors Services Inc. bought a new position in shares of Medtronic plc (NYSE:MDT – Get Rating) in the 3rd quarter, Holdings Channel reports. The fund bought 4,416 shares of the medical technology company’s stock, valued at approximately $397,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hotaling Investment Management LLC boosted its holdings in shares of Medtronic by 0.6% during the second quarter. Hotaling Investment Management LLC now owns 20,675 shares of the medical technology company’s stock worth $1,856,000 after acquiring an additional 114 shares during the period. Kolinsky Wealth Management LLC boosted its stake in Medtronic by 3.9% in the 2nd quarter. Kolinsky Wealth Management LLC now owns 3,276 shares of the medical technology company’s stock valued at $294,000 after purchasing an additional 123 shares during the period. Condor Capital Management grew its holdings in Medtronic by 0.7% in the 2nd quarter. Condor Capital Management now owns 18,290 shares of the medical technology company’s stock valued at $1,642,000 after buying an additional 126 shares in the last quarter. CoreFirst Bank & Trust increased its position in Medtronic by 4.2% during the 3rd quarter. CoreFirst Bank & Trust now owns 3,149 shares of the medical technology company’s stock worth $254,000 after buying an additional 126 shares during the period. Finally, IAG Wealth Partners LLC lifted its holdings in shares of Medtronic by 58.1% during the third quarter. IAG Wealth Partners LLC now owns 351 shares of the medical technology company’s stock worth $28,000 after buying an additional 129 shares in the last quarter. Institutional investors and hedge funds own 80.37% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank of Canada downgraded shares of Medtronic from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $102.00 to $89.00 in a research note on Monday, January 9th. StockNews.com started coverage on shares of Medtronic in a research report on Thursday. They issued a “buy” rating for the company. Mizuho reduced their price target on Medtronic from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, January 24th. Truist Financial dropped their price objective on Medtronic from $89.00 to $84.00 in a report on Wednesday, November 23rd. Finally, Oppenheimer downgraded Medtronic from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $106.00 to $85.00 in a research note on Wednesday, November 23rd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Medtronic has an average rating of “Hold” and a consensus target price of $90.72.

Medtronic Trading Down 1.2 %

Shares of MDT stock opened at $78.29 on Friday. Medtronic plc has a twelve month low of $75.76 and a twelve month high of $114.31. The stock’s fifty day simple moving average is $82.06 and its 200 day simple moving average is $82.22. The company has a quick ratio of 1.39, a current ratio of 1.76 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $104.16 billion, a P/E ratio of 25.75, a P/E/G ratio of 2.37 and a beta of 0.71.

Medtronic (NYSE:MDT – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The medical technology company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.03. The company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.53 billion. Medtronic had a return on equity of 13.37% and a net margin of 13.20%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.37 earnings per share. As a group, sell-side analysts predict that Medtronic plc will post 5.28 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 24th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Thursday, March 23rd. Medtronic’s payout ratio is currently 89.47%.

Insider Transactions at Medtronic

In related news, major shareholder Plc Medtronic acquired 6,835 shares of the firm’s stock in a transaction that occurred on Monday, January 30th. The stock was acquired at an average cost of $9.28 per share, for a total transaction of $63,428.80. Following the completion of the acquisition, the insider now directly owns 4,999,423 shares of the company’s stock, valued at approximately $46,394,645.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by company insiders.

Medtronic Company Profile

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Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiovascular Porrtfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.