Lakeside Advisors INC. Cuts Position in Medtronic plc (NYSE:MDT)

Lakeside Advisors INC. lowered its stake in shares of Medtronic plc (NYSE:MDT) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,168 shares of the medical technology company’s stock after selling 243 shares during the period. Medtronic accounts for 0.9% of Lakeside Advisors INC.’s investment portfolio, making the stock its 24th biggest holding. Lakeside Advisors INC.’s holdings in Medtronic were worth $1,366,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Clear Harbor Asset Management LLC grew its position 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 buying an additional 111 shares in the last quarter. First PREMIER Bank grew its holdings in Medtronic by 1.8% during the 3rd quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock worth $577,000 after acquiring an additional 116 shares in the last quarter. Precision Wealth Strategies LLC lifted its position in shares of Medtronic by 3.3% during the third quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock worth $337,000 after purchasing an additional 118 shares during the last quarter. Lake Street Advisors Group LLC grew its stake in Medtronic by 2.0% in the third quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock worth $547,000 after purchasing an additional 118 shares in the last quarter. Finally, Quent Capital LLC increased its holdings in Medtronic by 8.0% in the first quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock valued at $146,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.9 %

MDT stock opened at $90.07 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The firm has a market cap of $115.51 billion, a PE ratio of 30.43, a PEG ratio of 2.59 and a beta of 0.84. Medtronic plc has a 1 year low of $69.32 and a 1 year high of $92.68. The company has a fifty day simple moving average of $89.64 and a 200 day simple moving average of $84.13.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The business had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business earned $1.20 EPS. Sell-side analysts anticipate 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. Investors of record on Friday, September 27th were paid a $0.70 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. Medtronic’s payout ratio is presently 94.59%.

Wall Street Analyst Weigh In

Several research firms have recently commented on MDT. Citigroup lifted their price target on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Robert W. Baird boosted their price target on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Piper Sandler lifted their price objective on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company increased 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $95.36.

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.