ACG Wealth Has $370,000 Holdings in Medtronic plc (NYSE:MDT)

ACG Wealth cut its position in shares of Medtronic plc (NYSE:MDTGet Rating) by 14.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,119 shares of the medical technology company’s stock after selling 724 shares during the quarter. ACG Wealth’s holdings in Medtronic were worth $370,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mascoma Wealth Management LLC increased its position in shares of Medtronic by 41.7% during the first quarter. Mascoma Wealth Management LLC now owns 394 shares of the medical technology company’s stock worth $44,000 after buying an additional 116 shares during the period. Baker Tilly Wealth Management LLC grew its holdings in Medtronic by 26.2% in the first quarter. Baker Tilly Wealth Management LLC now owns 22,774 shares of the medical technology company’s stock worth $2,527,000 after purchasing an additional 4,725 shares during the period. Dakota Wealth Management grew its holdings in Medtronic by 167.6% in the first quarter. Dakota Wealth Management now owns 6,211 shares of the medical technology company’s stock worth $690,000 after purchasing an additional 3,890 shares during the period. 180 Wealth Advisors LLC grew its holdings in Medtronic by 3.2% in the first quarter. 180 Wealth Advisors LLC now owns 24,492 shares of the medical technology company’s stock worth $2,700,000 after purchasing an additional 760 shares during the period. Finally, InTrack Investment Management Inc acquired a new stake in Medtronic in the first quarter worth $346,000. 79.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on MDT. Needham & Company LLC cut shares of Medtronic from a “buy” rating to a “hold” rating in a report on Friday, May 27th. Wolfe Research initiated coverage on shares of Medtronic in a report on Tuesday, July 5th. They set an “underperform” rating and a $85.00 price objective for the company. Wells Fargo & Company reduced their price objective on shares of Medtronic from $104.00 to $96.00 and set an “equal weight” rating for the company in a report on Wednesday, August 24th. Piper Sandler reduced their price objective on shares of Medtronic from $100.00 to $90.00 in a report on Tuesday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Medtronic from $149.00 to $121.00 in a report on Friday, May 27th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $111.52.

Medtronic Price Performance

MDT opened at $85.73 on Thursday. The company has a market capitalization of $113.95 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 2.33 and a beta of 0.75. The company has a quick ratio of 1.23, a current ratio of 1.58 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $90.97 and a 200-day moving average price of $97.82. Medtronic plc has a twelve month low of $85.66 and a twelve month high of $131.31.

Medtronic (NYSE:MDTGet Rating) last posted its earnings results on Tuesday, August 23rd. The medical technology company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.01. Medtronic had a net margin of 16.75% and a return on equity of 13.64%. During the same period in the prior year, the business earned $1.41 earnings per share. Equities analysts expect that Medtronic plc will post 5.53 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 23rd will be paid a $0.68 dividend. The ex-dividend date is Thursday, September 22nd. This represents a $2.72 annualized dividend and a dividend yield of 3.17%. Medtronic’s payout ratio is 70.28%.

About Medtronic

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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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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