Integrated Advisors Network LLC Sells 3,150 Shares of Medtronic plc (NYSE:MDT)

Integrated Advisors Network LLC decreased its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,058 shares of the medical technology company's stock after selling 3,150 shares during the period. Integrated Advisors Network LLC's holdings in Medtronic were worth $4,049,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TCTC Holdings LLC lifted its holdings in shares of Medtronic by 3.4% in the fourth quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company's stock valued at $3,173,000 after purchasing an additional 1,301 shares in the last quarter. Brighton Jones LLC increased its position in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after buying an additional 37,265 shares during the last quarter. Oxford Asset Management LLP boosted its holdings in shares of Medtronic by 70.1% in the fourth quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock worth $594,000 after acquiring an additional 3,068 shares during the period. New Vernon Investment Management LLC boosted its holdings in shares of 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 worth $2,425,000 after acquiring an additional 22,300 shares during the period. Finally, Advisor OS LLC boosted its holdings in shares of Medtronic by 152.0% in the fourth quarter. Advisor OS LLC now owns 11,800 shares of the medical technology company's stock worth $943,000 after acquiring an additional 7,118 shares during the period. Institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MDT. Truist Financial dropped their price target on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Wall Street Zen downgraded Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Friday, June 6th. Robert W. Baird decreased their target price on Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Finally, UBS Group raised their price objective on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $97.00.

Medtronic Price Performance

Shares of Medtronic stock traded down $1.30 during mid-day trading on Friday, reaching $87.19. 6,008,318 shares of the stock were exchanged, compared to its average volume of 6,873,269. The company has a market cap of $111.83 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The firm has a 50-day simple moving average of $84.21 and a 200 day simple moving average of $86.26. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (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 for the quarter, compared to the consensus estimate of $8.81 billion. During the same period last year, the company earned $1.46 earnings per share. The firm's revenue was up 3.9% compared to the same quarter last year. On average, sell-side analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The company 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. This represents a $2.84 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Friday, June 27th. This is an increase from Medtronic's previous quarterly dividend of $0.70. 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.