Community Bank & Trust Waco Texas Sells 285 Shares of Medtronic plc (NYSE:MDT)

Community Bank & Trust Waco Texas reduced its stake in shares of Medtronic plc (NYSE:MDT) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,874 shares of the medical technology company’s stock after selling 285 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in Medtronic were worth $1,609,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Clear Harbor Asset Management LLC increased its position in shares of Medtronic by 1.2% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after buying an additional 111 shares in the last quarter. First PREMIER Bank grew its holdings 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 acquiring an additional 116 shares in the last quarter. Precision Wealth Strategies LLC raised its stake in shares of Medtronic by 3.3% during the 3rd 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 in the last quarter. Lake Street Advisors Group LLC raised its stake in Medtronic by 2.0% in the 3rd quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock valued at $547,000 after acquiring an additional 118 shares during the period. Finally, Sigma Planning Corp increased its holdings in shares of Medtronic by 0.4% in the third quarter. Sigma Planning Corp now owns 28,843 shares of the medical technology company’s stock valued at $2,597,000 after purchasing an additional 124 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Performance

NYSE MDT opened at $88.25 on Wednesday. The company has a 50-day simple moving average of $89.67 and a 200 day simple moving average of $84.57. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. Medtronic plc has a 52-week low of $71.64 and a 52-week high of $92.68. The company has a market capitalization of $113.18 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 2.52 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. The company had revenue of $7.97 billion during 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 quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 EPS. On average, research analysts predict that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.17%. Medtronic’s dividend payout ratio is currently 94.59%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MDT. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. Wells Fargo & Company lifted their price target on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Piper Sandler raised their price objective on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Oppenheimer lifted their target price on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Finally, Stifel Nicolaus lifted their target price on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Medtronic has an average 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.