Global Trust Asset Management LLC Raises Stock Position in Medtronic plc (NYSE:MDT)

Global Trust Asset Management LLC increased its holdings in shares of Medtronic plc (NYSE:MDT) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,665 shares of the medical technology company’s stock after purchasing an additional 259 shares during the period. Global Trust Asset Management LLC’s holdings in Medtronic were worth $330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MDT. Sunbelt Securities Inc. grew its position in Medtronic by 124.9% during the first quarter. Sunbelt Securities Inc. now owns 3,128 shares of the medical technology company’s stock valued at $273,000 after buying an additional 1,737 shares during the period. Wealthcare Advisory Partners LLC grew its position in Medtronic by 21.4% during the first quarter. Wealthcare Advisory Partners LLC now owns 8,378 shares of the medical technology company’s stock valued at $730,000 after buying an additional 1,476 shares during the period. Signet Financial Management LLC grew its position in Medtronic by 5.3% during the first quarter. Signet Financial Management LLC now owns 3,120 shares of the medical technology company’s stock valued at $272,000 after buying an additional 157 shares during the period. Financial Management Professionals Inc. grew its position in Medtronic by 16.0% during the first quarter. Financial Management Professionals Inc. now owns 4,473 shares of the medical technology company’s stock valued at $390,000 after buying an additional 616 shares during the period. Finally, Webster Bank N. A. grew its position in Medtronic by 4.1% during the first quarter. Webster Bank N. A. now owns 27,387 shares of the medical technology company’s stock valued at $2,387,000 after buying an additional 1,085 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

MDT opened at $90.99 on Friday. The firm has a market capitalization of $116.67 billion, a PE ratio of 33.09, a PEG ratio of 2.53 and a beta of 0.84. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $92.68. The firm’s 50-day moving average price is $89.04 and its 200 day moving average price is $83.74. 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 (NYSE:MDT) last issued its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS 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 company had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. During the same period in the previous year, the firm earned $1.20 earnings per share. Medtronic’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts expect that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Announces Dividend

The company 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. This represents a $2.80 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

Analyst Upgrades and Downgrades

Several research firms recently commented on MDT. Stifel Nicolaus raised their price target on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Wells Fargo & Company lifted their target price 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. Barclays lifted their target price on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Tuesday, August 20th. Finally, Robert W. Baird lifted their target price on shares of Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.