Medtronic PLC (NYSE:MDT) Shares Sold by Argonautica Private Wealth Management Inc.

Argonautica Private Wealth Management Inc. reduced its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 84.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,121 shares of the medical technology company's stock after selling 34,389 shares during the period. Argonautica Private Wealth Management Inc.'s holdings in Medtronic were worth $550,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after purchasing an additional 37,265 shares during the last quarter. LPL Financial LLC grew its position in shares of Medtronic by 4.5% during the 4th quarter. LPL Financial LLC now owns 1,140,884 shares of the medical technology company's stock valued at $91,134,000 after purchasing an additional 48,749 shares in the last quarter. CoreFirst Bank & Trust purchased a new position in Medtronic in the fourth quarter worth $117,000. Modern Wealth Management LLC lifted its stake in Medtronic by 8.9% in the fourth quarter. Modern Wealth Management LLC now owns 14,837 shares of the medical technology company's stock worth $1,185,000 after purchasing an additional 1,212 shares during the last quarter. Finally, TD Asset Management Inc. raised its stake in shares of Medtronic by 14.7% during the fourth quarter. TD Asset Management Inc. now owns 1,264,969 shares of the medical technology company's stock valued at $101,046,000 after acquiring an additional 161,998 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wolfe Research raised shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Friday, June 6th. Truist Financial cut their target price on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Robert W. Baird dropped their price target on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Finally, BTIG Research restated a "neutral" rating on shares of Medtronic in a report on Friday, July 11th. Eleven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $98.19.

Medtronic Stock Performance

Shares of MDT stock traded up $0.34 during trading hours on Thursday, hitting $92.35. The company's stock had a trading volume of 6,683,715 shares, compared to its average volume of 7,303,850. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $86.91 and a 200 day moving average of $87.44. Medtronic PLC has a 12-month low of $78.32 and a 12-month high of $96.25. The stock has a market cap of $118.45 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 2.39 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.04. The firm had revenue of $8.93 billion during the quarter, compared to analysts' expectations of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The business's revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.46 EPS. On average, sell-side analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were given a dividend of $0.71 per share. The ex-dividend date was Friday, June 27th. This is a boost from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a yield of 3.08%. Medtronic's dividend payout ratio is currently 78.45%.

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.