ACG Wealth Sells 724 Shares of Medtronic plc (NYSE:MDT)

ACG Wealth cut its stake in Medtronic plc (NYSE:MDTGet Rating) by 14.9% in the 2nd quarter, Holdings Channel reports. The firm owned 4,119 shares of the medical technology company’s stock after selling 724 shares during the period. ACG Wealth’s holdings in Medtronic were worth $370,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MDT. Mutual Advisors LLC raised its holdings in Medtronic by 4.0% in the 4th quarter. Mutual Advisors LLC now owns 11,248 shares of the medical technology company’s stock worth $1,164,000 after purchasing an additional 436 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Medtronic in the 4th quarter worth about $578,000. Nissay Asset Management Corp Japan ADV grew its position in shares of Medtronic by 2.9% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 149,818 shares of the medical technology company’s stock worth $15,499,000 after buying an additional 4,169 shares during the period. Berkeley Capital Partners LLC grew its position in shares of Medtronic by 51.7% in the 4th quarter. Berkeley Capital Partners LLC now owns 3,034 shares of the medical technology company’s stock worth $314,000 after buying an additional 1,034 shares during the period. Finally, Clearstead Advisors LLC grew its position in shares of Medtronic by 4.7% in the 4th quarter. Clearstead Advisors LLC now owns 14,743 shares of the medical technology company’s stock worth $1,525,000 after buying an additional 668 shares during the period. 79.81% of the stock is currently owned by institutional investors.

Medtronic Price Performance

Shares of NYSE:MDT opened at $85.73 on Thursday. The firm’s 50 day moving average price is $90.97 and its 200-day moving average price is $97.82. Medtronic plc has a twelve month low of $85.66 and a twelve month high of $131.31. The company has a quick ratio of 1.23, a current ratio of 1.58 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $113.95 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 2.33 and a beta of 0.75.

Medtronic (NYSE:MDTGet Rating) last issued its quarterly earnings data on Tuesday, August 23rd. The medical technology company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.01. Medtronic had a net margin of 16.75% and a return on equity of 13.64%. During the same period in the previous year, the firm posted $1.41 EPS. Equities research analysts expect that Medtronic plc will post 5.53 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 23rd will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Thursday, September 22nd. Medtronic’s dividend payout ratio (DPR) is presently 70.28%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MDT. TheStreet downgraded shares of Medtronic from a “b-” rating to a “c+” rating in a research report on Monday, August 1st. StockNews.com downgraded shares of Medtronic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 24th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Medtronic from $149.00 to $121.00 in a research report on Friday, May 27th. Citigroup cut their price objective on shares of Medtronic from $120.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, May 27th. Finally, Truist Financial cut their price objective on shares of Medtronic from $111.00 to $97.00 and set a “hold” rating on the stock in a research report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $111.52.

About Medtronic

(Get Rating)

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.

Recommended Stories

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:MDTGet Rating).

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.