Evexia Wealth LLC Reduces Holdings in Medtronic plc (NYSE:MDT)

Evexia Wealth LLC lowered its holdings in shares of Medtronic plc (NYSE:MDT) by 75.0% in the third quarter, HoldingsChannel.com reports. The fund owned 8,252 shares of the medical technology company’s stock after selling 24,746 shares during the quarter. Evexia Wealth LLC’s holdings in Medtronic were worth $718,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wynn Capital LLC raised its position in shares of Medtronic by 19.5% during the 3rd quarter. Wynn Capital LLC now owns 3,921 shares of the medical technology company’s stock worth $353,000 after purchasing an additional 640 shares during the last quarter. MADDEN SECURITIES Corp acquired a new position in shares of Medtronic in the third quarter worth $219,000. Juncture Wealth Strategies LLC lifted its position in shares of Medtronic by 12.4% in the third quarter. Juncture Wealth Strategies LLC now owns 3,633 shares of the medical technology company’s stock valued at $327,000 after acquiring an additional 400 shares in the last quarter. Iowa State Bank acquired a new stake in shares of Medtronic during the third quarter valued at $1,175,000. Finally, Nvest Financial LLC increased its position in Medtronic by 6.7% during the 3rd quarter. Nvest Financial LLC now owns 10,052 shares of the medical technology company’s stock worth $905,000 after purchasing an additional 633 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Up 0.6 %

Shares of Medtronic stock traded up $0.51 during trading on Friday, reaching $89.36. The company had a trading volume of 4,482,912 shares, compared to its average volume of 6,290,060. 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 company has a market cap of $114.58 billion, a price-to-earnings ratio of 32.49, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.49. The firm’s fifty day moving average is $87.54 and its 200-day moving average is $83.46.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.03. The firm had revenue of $7.97 billion for 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 firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the business posted $1.20 earnings per share. On average, analysts anticipate that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is 101.82%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MDT. Oppenheimer boosted their price objective on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. Piper Sandler increased their price target on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $98.00 to $105.00 in a research report on Thursday. Wells Fargo & Company increased 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. Finally, Citigroup lifted their price target on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $95.14.

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.