Blair William & Co. IL Has $8.27 Million Stock Position in Medtronic plc (NYSE:MDT)

Blair William & Co. IL cut its stake in shares of Medtronic plc (NYSE:MDT) by 24.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 105,078 shares of the medical technology company’s stock after selling 34,749 shares during the period. Blair William & Co. IL’s holdings in Medtronic were worth $8,271,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Gryphon Financial Partners LLC bought a new position in Medtronic during the 4th quarter worth approximately $220,000. CreativeOne Wealth LLC boosted its position in shares of Medtronic by 52.4% during the fourth quarter. CreativeOne Wealth LLC now owns 4,156 shares of the medical technology company’s stock worth $342,000 after purchasing an additional 1,429 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Medtronic by 4.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 192,382 shares of the medical technology company’s stock valued at $15,848,000 after buying an additional 7,543 shares during the period. SageView Advisory Group LLC increased its position in shares of Medtronic by 59.3% in the 4th quarter. SageView Advisory Group LLC now owns 7,306 shares of the medical technology company’s stock valued at $635,000 after buying an additional 2,721 shares in the last quarter. Finally, TCW Group Inc. raised its stake in Medtronic by 3.8% during the 4th quarter. TCW Group Inc. now owns 78,425 shares of the medical technology company’s stock worth $6,468,000 after buying an additional 2,869 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE:MDT opened at $89.35 on Friday. The stock has a market capitalization of $114.57 billion, a PE ratio of 32.49, a P/E/G ratio of 2.57 and a beta of 0.84. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $91.49. The firm has a fifty day simple moving average of $84.77 and a 200 day simple moving average of $82.99. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping 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 company 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. Medtronic’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.13%. Medtronic’s dividend payout ratio is currently 101.82%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Oppenheimer boosted their target price on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. Truist Financial increased their target price on Medtronic from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. The Goldman Sachs Group began coverage on shares of Medtronic in a research note on Thursday, May 30th. They issued a “sell” rating and a $83.00 price target on the stock. Barclays upped their price target on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Citigroup dropped their price objective on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $92.92.

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.