Forvis Mazars Wealth Advisors LLC cut its holdings in Medtronic PLC (NYSE:MDT – Free Report) by 4.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,293 shares of the medical technology company’s stock after selling 169 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Medtronic were worth $287,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of MDT. Boston Partners raised its holdings in Medtronic by 122.8% in the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock valued at $619,460,000 after acquiring an additional 3,809,450 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Medtronic by 28.8% in the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock valued at $1,391,141,000 after acquiring an additional 3,461,221 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Medtronic by 42.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock valued at $903,915,000 after acquiring an additional 3,017,849 shares during the last quarter. Nuveen LLC acquired a new position in Medtronic in the 1st quarter valued at $260,649,000. Finally, Mackenzie Financial Corp raised its holdings in Medtronic by 220.9% in the 1st quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company’s stock valued at $216,753,000 after acquiring an additional 1,660,357 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.
Medtronic Stock Up 0.2%
Shares of Medtronic stock opened at $95.97 on Tuesday. Medtronic PLC has a twelve month low of $79.29 and a twelve month high of $99.37. The stock has a market cap of $123.10 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The company has a fifty day moving average price of $94.13 and a 200 day moving average price of $89.08.
Medtronic Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, September 26th. Medtronic’s dividend payout ratio is currently 78.24%.
Analysts Set New Price Targets
Several research analysts have weighed in on MDT shares. Robert W. Baird boosted their price target on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Wells Fargo & Company boosted their price objective on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday, October 8th. Evercore ISI boosted their price objective on shares of Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Finally, The Goldman Sachs Group lowered their price objective on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.82.
Read Our Latest Stock Report on Medtronic
Insider Buying and Selling at Medtronic
In related news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their position. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by corporate insiders.
Medtronic 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.
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