Medtronic plc (NYSE:MDT) Position Reduced by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC trimmed its stake in shares of Medtronic plc (NYSE:MDT) by 4.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,281 shares of the medical technology company’s stock after selling 630 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Medtronic were worth $1,286,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Lynx Investment Advisory bought a new position in Medtronic during the 2nd quarter valued at $28,000. Tributary Capital Management LLC bought a new position in shares of Medtronic in the 1st quarter worth about $33,000. Gleason Group Inc. bought a new position in shares of Medtronic in the 2nd quarter worth about $42,000. Opal Wealth Advisors LLC bought a new position in shares of Medtronic in the 2nd quarter worth about $43,000. Finally, Olistico Wealth LLC bought a new position in shares of Medtronic in the 2nd quarter worth about $45,000. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and raised their price target for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Barclays lifted their price objective on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Evercore ISI lifted their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, Truist Financial lifted their price objective on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Medtronic presently has an average rating of “Hold” and a consensus target price of $95.36.

Medtronic Stock Up 1.3 %

Medtronic stock opened at $92.27 on Thursday. The stock has a market cap of $118.32 billion, a price-to-earnings ratio of 33.55, a PEG ratio of 2.53 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average price is $89.04 and its two-hundred day moving average price is $83.74. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $92.39.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.03. The company had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. On average, analysts expect that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.03%. Medtronic’s dividend payout ratio is currently 101.82%.

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.