Fort Washington Investment Advisors Inc. OH Sells 127,166 Shares of Medtronic plc (NYSE:MDT)

Fort Washington Investment Advisors Inc. OH lowered its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,678,243 shares of the medical technology company's stock after selling 127,166 shares during the period. Medtronic comprises about 1.5% of Fort Washington Investment Advisors Inc. OH's investment portfolio, making the stock its 15th biggest holding. Fort Washington Investment Advisors Inc. OH owned 0.21% of Medtronic worth $240,667,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. MONECO Advisors LLC lifted its position in shares of Medtronic by 1.8% during the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock valued at $512,000 after purchasing an additional 115 shares in the last quarter. Faithward Advisors LLC increased its holdings in Medtronic by 2.7% during the fourth quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock worth $403,000 after buying an additional 134 shares during the last quarter. Vestor Capital LLC increased its holdings in Medtronic by 0.3% during the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock worth $4,104,000 after buying an additional 138 shares during the last quarter. L. Roy Papp & Associates LLP increased its holdings in Medtronic by 2.8% during the first quarter. L. Roy Papp & Associates LLP now owns 5,099 shares of the medical technology company's stock worth $458,000 after buying an additional 138 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. increased its holdings in Medtronic by 4.9% during the fourth quarter. Retirement Planning Co of New England Inc. now owns 2,989 shares of the medical technology company's stock worth $239,000 after buying an additional 139 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Truist Financial decreased their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Wall Street Zen downgraded shares of Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Mizuho decreased their price objective on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. UBS Group raised their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada decreased their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of "Moderate Buy" and a consensus target price of $97.00.

Medtronic Price Performance

Shares of MDT stock traded down $1.30 during trading hours on Friday, reaching $87.19. The stock had a trading volume of 6,008,318 shares, compared to its average volume of 6,886,057. The stock's fifty day simple moving average is $84.21 and its 200 day simple moving average is $86.26. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The firm has a market capitalization of $111.83 billion, a PE ratio of 26.50, a PEG ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.04. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. During the same period last year, the business earned $1.46 earnings per share. Medtronic's revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, June 27th. This is a positive change from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 3.26%. Medtronic's payout ratio is presently 78.45%.

About Medtronic

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.