New Age Alpha Advisors LLC Sells 12,776 Shares of Medtronic PLC $MDT

New Age Alpha Advisors LLC reduced its holdings in Medtronic PLC (NYSE:MDT) by 54.8% in the 4th quarter, Holdings Channel reports. The fund owned 10,551 shares of the medical technology company’s stock after selling 12,776 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Medtronic were worth $1,014,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Medtronic by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock worth $12,388,027,000 after acquiring an additional 1,888,381 shares in the last quarter. State Street Corp increased its holdings in shares of Medtronic by 1.0% in the third quarter. State Street Corp now owns 60,460,537 shares of the medical technology company’s stock worth $5,800,550,000 after acquiring an additional 625,992 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Medtronic by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company’s stock worth $2,044,637,000 after acquiring an additional 192,410 shares in the last quarter. Raymond James Financial Inc. increased its holdings in shares of Medtronic by 3.0% in the third quarter. Raymond James Financial Inc. now owns 11,203,865 shares of the medical technology company’s stock worth $1,067,055,000 after acquiring an additional 327,899 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Medtronic by 35.3% during the third quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock worth $970,456,000 after buying an additional 2,658,981 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

Shares of NYSE MDT opened at $75.98 on Thursday. The stock has a 50 day moving average price of $82.89 and a 200 day moving average price of $92.90. Medtronic PLC has a 52 week low of $74.40 and a 52 week high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The stock has a market capitalization of $97.55 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 1.85 and a beta of 0.62.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.7%. Medtronic’s dividend payout ratio is 79.11%.

Key Headlines Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic announced its intention to acquire SPR Therapeutics, a move that could expand its pain-management portfolio and support longer-term growth. Medtronic plc (MDT) Announces Intention to Acquire SPR Therapeutics (SPR)
• Positive Sentiment: Analysts noted broad MedSurg, cardiovascular, and diabetes strength could help Medtronic’s fiscal Q4 results, suggesting some underlying operational support. Broad-Based MedSurg Growth Likely to Aid MDT’s Q4 Performance
• Neutral Sentiment: Medtronic is expected to report earnings on Wednesday, keeping investors focused on whether results and guidance can reset expectations. Medtronic (MDT) Expected to Announce Earnings on Wednesday
• Neutral Sentiment: Industry comparisons continue to highlight competition in surgical robotics, with Intuitive Surgical seen as having the stronger growth profile than Medtronic’s Hugo platform. ISRG vs. MDT: Which Surgical Robot Stock Is the Better Buy?
• Negative Sentiment: Analysts are looking for a decline in Medtronic’s earnings and say the company may not have the right setup for an earnings beat, which is weighing on sentiment ahead of the report. Analysts Estimate Medtronic (MDT) to Report a Decline in Earnings: What to Look Out for
• Negative Sentiment: Recent trading showed the stock weakening despite a broader market gain, reinforcing cautious investor sentiment. Medtronic (MDT) Stock Drops Despite Market Gains: Important Facts to Note

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Medtronic from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Robert W. Baird upped their price objective on Medtronic from $92.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Weiss Ratings cut Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Wells Fargo & Company assumed coverage on Medtronic in a research report on Friday, January 30th. They set an “overweight” rating and a $114.00 price objective for the company. Finally, Citigroup reduced their price objective on Medtronic from $117.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.45.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).