Medtronic plc (NYSE:MDT) Shares Sold by Venture Visionary Partners LLC

Venture Visionary Partners LLC decreased its position in shares of Medtronic plc (NYSE:MDT) by 6.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,108 shares of the medical technology company’s stock after selling 1,162 shares during the quarter. Venture Visionary Partners LLC’s holdings in Medtronic were worth $1,540,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MDT. Lynx Investment Advisory purchased a new position in shares of Medtronic in the second quarter valued at $28,000. Tributary Capital Management LLC purchased a new position in Medtronic during the 1st quarter valued at about $33,000. Riverview Trust Co acquired a new position in Medtronic during the first quarter worth about $39,000. Gleason Group Inc. purchased a new stake in shares of Medtronic in the second quarter valued at about $42,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Medtronic in the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the subject of several research reports. Evercore ISI lifted their price objective on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Oppenheimer upped their price objective on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Piper Sandler raised their price target on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company boosted their price objective on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $95.36.

Medtronic Stock Performance

NYSE MDT opened at $91.05 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $92.25. The firm has a market capitalization of $116.75 billion, a P/E ratio of 33.11, a P/E/G ratio of 2.53 and a beta of 0.84. The business’s 50-day simple moving average is $88.65 and its 200-day simple moving average is $83.63.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio is presently 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.