MidWestOne Financial Group Inc. Sells 197 Shares of Medtronic plc (NYSE:MDT)

MidWestOne Financial Group Inc. decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 7.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,630 shares of the medical technology company’s stock after selling 197 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Medtronic were worth $237,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC bought a new position in Medtronic in the 3rd quarter valued at $27,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic in the third quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in shares of Medtronic in the third quarter worth about $27,000. J. Stern & Co. LLP purchased a new position in Medtronic in the 3rd quarter worth about $30,000. Finally, True Wealth Design LLC lifted its holdings in Medtronic by 1,793.3% during the 3rd quarter. True Wealth Design LLC now owns 568 shares of the medical technology company’s stock valued at $51,000 after buying an additional 538 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $83.60 on Wednesday. The business’s fifty day simple moving average is $88.13 and its 200-day simple moving average is $85.01. The company has a current ratio of 1.84, a quick ratio of 1.39 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 company has a market cap of $107.20 billion, a PE ratio of 25.57, a PEG ratio of 2.38 and a beta of 0.82.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share. Analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Wall Street Analyst Weigh In

MDT has been the topic of a number of research reports. Citigroup raised their target price on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Barclays upped their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Stifel Nicolaus raised their price target on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Truist Financial upped their price objective on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Finally, UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and raised their target price for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.