Medtronic plc (NYSE:MDT) Shares Sold by Saratoga Research & Investment Management

Saratoga Research & Investment Management cut its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,356,045 shares of the medical technology company's stock after selling 34,855 shares during the quarter. Medtronic accounts for approximately 5.3% of Saratoga Research & Investment Management's holdings, making the stock its 8th biggest position. Saratoga Research & Investment Management owned approximately 0.11% of Medtronic worth $122,085,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clear Harbor Asset Management LLC grew its holdings in shares of Medtronic by 1.2% during the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company's stock worth $861,000 after purchasing an additional 111 shares during the last quarter. Guardian Wealth Management Inc. grew its position in shares of Medtronic by 0.9% during the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company's stock worth $1,182,000 after buying an additional 115 shares during the period. First PREMIER Bank lifted its stake in shares of Medtronic by 1.8% in the 3rd quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company's stock valued at $577,000 after purchasing an additional 116 shares during the period. First City Capital Management Inc. boosted its holdings in Medtronic by 2.9% during the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company's stock worth $371,000 after buying an additional 116 shares during the last quarter. Finally, Hardy Reed LLC raised its holdings in Medtronic by 4.4% in the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company's stock worth $247,000 after purchasing an additional 116 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Performance

Shares of MDT traded down $0.19 during trading hours on Thursday, hitting $82.73. The company had a trading volume of 4,747,652 shares, compared to its average volume of 6,244,348. The firm has a market cap of $106.08 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 2.38 and a beta of 0.82. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The business has a fifty day moving average of $87.87 and a 200-day moving average of $85.00.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the firm posted $1.25 EPS. The company's revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.38%. Medtronic's dividend payout ratio is currently 85.63%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MDT shares. Evercore ISI boosted their target price on Medtronic from $100.00 to $104.00 and gave the company an "outperform" rating in a research note on Tuesday, October 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Monday, November 18th. Daiwa America upgraded shares of Medtronic to a "strong-buy" rating in a report on Friday, August 23rd. Stifel Nicolaus raised their price objective on shares of Medtronic from $85.00 to $87.00 and gave the stock a "hold" rating in a report on Wednesday, August 21st. Finally, Barclays upped their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $95.27.

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.