Hudson Valley Investment Advisors Inc. ADV grew its position in Medtronic PLC (NYSE:MDT) by 0.5% during the third quarter, HoldingsChannel reports. The firm owned 149,602 shares of the medical technology company’s stock after acquiring an additional 672 shares during the period. Medtronic accounts for approximately 3.4% of Hudson Valley Investment Advisors Inc. ADV’s holdings, making the stock its 4th largest position. Hudson Valley Investment Advisors Inc. ADV’s holdings in Medtronic were worth $14,716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in MDT. Busey Trust CO raised its stake in Medtronic by 0.9% during the 3rd quarter. Busey Trust CO now owns 131,931 shares of the medical technology company’s stock worth $12,978,000 after acquiring an additional 1,142 shares in the last quarter. Douglass Winthrop Advisors LLC raised its stake in Medtronic by 21.0% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 5,766 shares of the medical technology company’s stock worth $567,000 after acquiring an additional 1,000 shares in the last quarter. Stokes Capital Advisors LLC raised its stake in Medtronic by 4.4% during the 3rd quarter. Stokes Capital Advisors LLC now owns 21,871 shares of the medical technology company’s stock worth $2,151,000 after acquiring an additional 920 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in Medtronic by 47.0% during the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 8,606 shares of the medical technology company’s stock worth $847,000 after acquiring an additional 2,751 shares in the last quarter. Finally, Gradient Investments LLC raised its stake in Medtronic by 3.3% during the 3rd quarter. Gradient Investments LLC now owns 109,879 shares of the medical technology company’s stock worth $10,809,000 after acquiring an additional 3,547 shares in the last quarter. Institutional investors and hedge funds own 79.90% of the company’s stock.

Several equities research analysts recently commented on MDT shares. Morgan Stanley lifted their price target on shares of Medtronic from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 22nd. Zacks Investment Research downgraded shares of Medtronic from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Needham & Company LLC raised shares of Medtronic from a “buy” rating to a “strong-buy” rating and raised their price objective for the stock from $103.00 to $119.00 in a research report on Monday, August 13th. Argus raised their price objective on shares of Medtronic from $95.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, August 27th. Finally, Wells Fargo & Co raised their price objective on shares of Medtronic from $95.00 to $101.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 22nd. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Medtronic presently has an average rating of “Buy” and an average target price of $101.50.

Shares of Medtronic stock opened at $94.69 on Friday. The firm has a market cap of $132.85 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 2.61 and a beta of 0.92. The company has a current ratio of 2.46, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47. Medtronic PLC has a 1 year low of $76.41 and a 1 year high of $100.15.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.06. The business had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $7.24 billion. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.12 earnings per share. On average, research analysts forecast that Medtronic PLC will post 5.12 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 19th. Stockholders of record on Friday, September 28th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Thursday, September 27th. Medtronic’s payout ratio is 41.93%.

In other news, Director Richard H. Anderson bought 2,600 shares of the stock in a transaction dated Thursday, August 23rd. The shares were acquired at an average price of $95.88 per share, with a total value of $249,288.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Hooman Hakami sold 26,159 shares of Medtronic stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $96.29, for a total transaction of $2,518,850.11. Following the completion of the sale, the executive vice president now directly owns 63,046 shares in the company, valued at approximately $6,070,699.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 268,678 shares of company stock worth $25,818,353. Insiders own 0.28% of the company’s stock.

Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

Featured Story: Trading Strategy Methods for Individual Investors

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT).

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.