Kintegral Advisory LLC Sells 17,462 Shares of Medtronic PLC (NYSE:MDT)

Kintegral Advisory LLC lessened its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 32.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,602 shares of the medical technology company's stock after selling 17,462 shares during the period. Kintegral Advisory LLC's holdings in Medtronic were worth $3,224,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. TCTC Holdings LLC boosted its holdings in Medtronic by 3.4% during the fourth quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company's stock valued at $3,173,000 after acquiring an additional 1,301 shares during the period. Brighton Jones LLC increased its holdings in shares of Medtronic by 1,368.0% in the fourth 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 in the last quarter. Oxford Asset Management LLP boosted its holdings in Medtronic by 70.1% in the fourth quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock valued at $594,000 after acquiring an additional 3,068 shares during the last quarter. New Vernon Investment Management LLC lifted its holdings in Medtronic by 304.9% in the fourth quarter. New Vernon Investment Management LLC now owns 29,613 shares of the medical technology company's stock valued at $2,425,000 after buying an additional 22,300 shares during the period. Finally, Insight Inv LLC boosted its position in shares of Medtronic by 84.2% in the 1st quarter. Insight Inv LLC now owns 27,456 shares of the medical technology company's stock worth $2,467,000 after purchasing an additional 12,550 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 commented on the stock. Truist Financial lowered their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Mizuho cut their target price on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Leerink Partners started coverage on Medtronic in a research report on Monday, June 16th. They set an "outperform" rating and a $110.00 price target on the stock. Finally, Wolfe Research upgraded Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of "Moderate Buy" and an average price target of $97.87.

Medtronic Stock Performance

NYSE MDT traded up $0.22 during trading on Friday, hitting $88.50. 2,989,470 shares of the company's stock traded hands, compared to its average volume of 6,988,170. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. The stock has a market capitalization of $113.50 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 2.39 and a beta of 0.80. Medtronic PLC has a 12-month low of $75.96 and a 12-month high of $96.25. The business has a 50 day moving average of $85.21 and a 200-day moving average of $86.49.

Medtronic (NYSE:MDT - Get Free Report) last announced 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. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The business had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. During the same period in the previous year, the business posted $1.46 earnings per share. Medtronic's revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently declared 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 represents a $2.84 annualized dividend and a yield of 3.21%. This is a boost from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend 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.