Nations Financial Group Inc. IA ADV Cuts Stock Position in Medtronic plc (NYSE:MDT)

Nations Financial Group Inc. IA ADV trimmed its position in shares of Medtronic plc (NYSE:MDT) by 31.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,672 shares of the medical technology company’s stock after selling 3,952 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Medtronic were worth $781,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MDT. Fortitude Family Office LLC acquired a new stake in Medtronic in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic during the 3rd quarter worth $27,000. Lynx Investment Advisory acquired a new position in Medtronic during the 2nd quarter valued at about $28,000. Gleason Group Inc. purchased a new stake in Medtronic in the second quarter valued at about $42,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Medtronic in the second quarter worth about $43,000. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MDT shares. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Barclays boosted their price target on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Stifel Nicolaus boosted their target price on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Oppenheimer raised their price target on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. Finally, UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and lifted their target price for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $95.36.

Medtronic Stock Down 0.0 %

Shares of MDT opened at $88.25 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. Medtronic plc has a 52-week low of $71.64 and a 52-week high of $92.68. The stock has a fifty day simple moving average of $89.67 and a two-hundred day simple moving average of $84.57. The company has a market capitalization of $113.18 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 2.51 and a beta of 0.84.

Medtronic (NYSE:MDT) last issued its quarterly earnings data 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. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. During the same period in the prior year, the business posted $1.20 earnings per share. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities analysts forecast 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. Investors of record on Friday, September 27th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.17%. Medtronic’s dividend payout ratio (DPR) is presently 94.59%.

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.