Bradley Foster & Sargent Inc. CT Has $1.99 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Bradley Foster & Sargent Inc. CT lessened its stake in Medtronic plc (NYSE:MDT) by 6.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,274 shares of the medical technology company’s stock after selling 1,834 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Medtronic were worth $1,989,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MDT. Gryphon Financial Partners LLC acquired a new position in shares of Medtronic during the 4th quarter worth $220,000. Jump Financial LLC increased its stake in shares of Medtronic by 109.2% during the 4th quarter. Jump Financial LLC now owns 6,256 shares of the medical technology company’s stock worth $515,000 after purchasing an additional 3,266 shares during the last quarter. Hillsdale Investment Management Inc. increased its stake in shares of Medtronic by 152.1% during the 4th quarter. Hillsdale Investment Management Inc. now owns 3,431 shares of the medical technology company’s stock worth $283,000 after purchasing an additional 2,070 shares during the last quarter. Sachetta LLC acquired a new position in shares of Medtronic during the 4th quarter worth $90,000. Finally, Corient Private Wealth LLC increased its stake in shares of Medtronic by 8.1% during the 4th quarter. Corient Private Wealth LLC now owns 607,243 shares of the medical technology company’s stock worth $50,025,000 after purchasing an additional 45,517 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. The Goldman Sachs Group began coverage on shares of Medtronic in a report on Thursday, May 30th. They set a “sell” rating and a $83.00 price objective for the company. Piper Sandler upped their price objective on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Daiwa America raised shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Finally, Robert W. Baird upped their price objective on shares of Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $92.92.

Medtronic Price Performance

Shares of Medtronic stock opened at $88.13 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The firm’s 50-day simple moving average is $84.32 and its 200-day simple moving average is $82.91. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.49. The firm has a market cap of $113.01 billion, a P/E ratio of 32.05, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. During the same period in the previous year, the business earned $1.20 EPS. The firm’s revenue was up 3.4% on a year-over-year basis. As a group, research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.18%. The ex-dividend date is Friday, September 27th. Medtronic’s dividend payout ratio is currently 101.82%.

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.