Hudson Valley Investment Advisors Inc. ADV Decreases Holdings in Medtronic plc (NYSE:MDT)

Hudson Valley Investment Advisors Inc. ADV lowered its stake in Medtronic plc (NYSE:MDT) by 0.9% in the 4th quarter, HoldingsChannel reports. The fund owned 103,425 shares of the medical technology company’s stock after selling 912 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in Medtronic were worth $8,262,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC purchased a new position in shares of Medtronic in the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic during the third quarter worth $27,000. Darwin Wealth Management LLC bought a new position in Medtronic during the third quarter valued at $27,000. J. Stern & Co. LLP purchased a new position in shares of Medtronic during the 3rd quarter worth about $30,000. Finally, Chelsea Counsel Co. bought a new position in Medtronic during the 3rd quarter valued at about $45,000. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. JPMorgan Chase & Co. decreased their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. 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. Evercore ISI lifted their price target on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Robert W. Baird reduced their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Stock Performance

Shares of Medtronic stock opened at $82.73 on Friday. Medtronic plc has a one year low of $75.96 and a one year high of $92.68. The company has a market capitalization of $106.08 billion, a PE ratio of 25.30, a P/E/G ratio of 2.33 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The company has a 50-day simple moving average of $84.17 and a two-hundred day simple moving average of $84.89.

Medtronic (NYSE:MDT) last posted its earnings results 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 net margin of 13.00% and a return on equity of 13.79%. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. Medtronic’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts expect that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.38%. Medtronic’s dividend payout ratio (DPR) is 85.63%.

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.