Medtronic PLC (NYSE:MDT) Shares Sold by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC lessened its holdings in shares of Medtronic PLC (NYSE:MDT) by 12.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,386 shares of the medical technology company’s stock after selling 1,369 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Medtronic were worth $843,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC grew 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 valued at $3,194,000 after acquiring an additional 37,265 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in Medtronic in the fourth quarter valued at approximately $342,000. RWA Wealth Partners LLC grew its position in Medtronic by 13.3% in the fourth quarter. RWA Wealth Partners LLC now owns 11,530 shares of the medical technology company’s stock valued at $921,000 after acquiring an additional 1,352 shares in the last quarter. California Public Employees Retirement System grew its position in Medtronic by 5.4% in the fourth quarter. California Public Employees Retirement System now owns 2,698,268 shares of the medical technology company’s stock valued at $215,538,000 after acquiring an additional 139,141 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in Medtronic by 8.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 487,185 shares of the medical technology company’s stock valued at $40,280,000 after acquiring an additional 38,348 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $91.99 on Tuesday. The business’s fifty day moving average price is $87.14 and its 200 day moving average price is $87.68. Medtronic PLC has a 12-month low of $78.60 and a 12-month high of $96.25. The stock has a market capitalization of $117.98 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 2.41 and a beta of 0.80. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.04. The firm had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the business posted $1.46 earnings per share. Equities research analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.09%. This is a boost from Medtronic’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, June 27th. Medtronic’s dividend payout ratio (DPR) is presently 78.45%.

Analyst Ratings Changes

Several brokerages have issued reports on MDT. Leerink Partners began coverage on shares of Medtronic in a research report on Monday, June 16th. They issued an “outperform” rating and a $110.00 price objective for the company. Leerink Partnrs raised shares of Medtronic to a “strong-buy” rating in a research report on Monday, June 16th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Friday, June 6th. Robert W. Baird decreased their price target on shares of Medtronic from $94.00 to $92.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Finally, Mizuho raised their price target on shares of Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $98.19.

Medtronic Company 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.