Quotient Wealth Partners LLC Sells 2,008 Shares of Medtronic plc (NYSE:MDT)

Quotient Wealth Partners LLC reduced its stake in shares of Medtronic plc (NYSE:MDTFree Report) by 19.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,473 shares of the medical technology company’s stock after selling 2,008 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Medtronic were worth $763,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Boyar Asset Management Inc. grew its position in Medtronic by 2.6% during the 4th quarter. Boyar Asset Management Inc. now owns 4,655 shares of the medical technology company’s stock worth $383,000 after acquiring an additional 120 shares during the last quarter. Groupama Asset Managment acquired a new stake in shares of Medtronic in the fourth quarter valued at $17,225,000. Forefront Analytics LLC bought a new position in shares of Medtronic in the fourth quarter valued at about $201,000. Financial Network Wealth Advisors LLC acquired a new position in Medtronic during the 4th quarter worth about $278,000. Finally, Petredis Investment Advisors LLC bought a new stake in Medtronic during the 4th quarter worth about $2,159,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MDT. Stifel Nicolaus upped their target price on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $98.00 to $105.00 in a research report on Thursday. Wells Fargo & Company boosted their target price on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Truist Financial raised their price target on Medtronic from $85.00 to $90.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $95.14.

View Our Latest Stock Analysis on Medtronic

Medtronic Trading Up 0.6 %

Shares of NYSE MDT opened at $88.85 on Friday. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.49. The stock has a market cap of $113.95 billion, a price-to-earnings ratio of 30.02, a P/E/G ratio of 2.53 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The company’s fifty day moving average is $87.22 and its 200-day moving average is $83.38.

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

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, September 27th. Medtronic’s dividend payout ratio is 94.59%.

Medtronic Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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