Brady Family Wealth LLC Lowers Holdings in Medtronic plc (NYSE:MDT)

Brady Family Wealth LLC reduced its position in shares of Medtronic plc (NYSE:MDT) by 5.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 38,207 shares of the medical technology company’s stock after selling 2,165 shares during the period. Brady Family Wealth LLC’s holdings in Medtronic were worth $3,440,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Research Global Investors grew its position in shares of Medtronic by 7.1% during the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock worth $2,691,577,000 after buying an additional 2,044,109 shares in the last quarter. Pzena Investment Management LLC grew its holdings in Medtronic by 8.3% during the 2nd quarter. Pzena Investment Management LLC now owns 8,307,123 shares of the medical technology company’s stock worth $653,854,000 after acquiring an additional 637,931 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Medtronic by 7.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock valued at $560,494,000 after purchasing an additional 515,751 shares during the period. Longview Partners Guernsey LTD raised its holdings in shares of Medtronic by 2.3% in the 1st quarter. Longview Partners Guernsey LTD now owns 6,635,054 shares of the medical technology company’s stock valued at $578,245,000 after purchasing an additional 147,737 shares in the last quarter. Finally, Raymond James & Associates lifted its position in shares of Medtronic by 5.7% in the 2nd quarter. Raymond James & Associates now owns 6,246,361 shares of the medical technology company’s stock worth $491,651,000 after purchasing an additional 336,618 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Down 0.2 %

Shares of Medtronic stock opened at $89.84 on Wednesday. The stock has a market cap of $115.20 billion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84. The firm has a fifty day moving average price of $87.92 and a 200 day moving average price of $83.47. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $91.49. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The business had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. During the same quarter in the prior year, the firm posted $1.20 EPS. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities research analysts predict that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.12%. The ex-dividend date was Friday, September 27th. Medtronic’s payout ratio is presently 101.82%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. Evercore ISI boosted their target price on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Truist Financial boosted their target price on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday. Finally, Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus 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.