Atria Wealth Solutions Inc. Buys New Stake in Medtronic plc (NYSE:MDT)

Atria Wealth Solutions Inc. purchased a new position in shares of Medtronic plc (NYSE:MDTGet Rating) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 59,176 shares of the medical technology company’s stock, valued at approximately $6,596,000.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Medtronic during the 4th quarter valued at $1,349,223,000. Vanguard Group Inc. raised its holdings in shares of Medtronic by 6.5% in the first quarter. Vanguard Group Inc. now owns 120,557,488 shares of the medical technology company’s stock valued at $13,375,853,000 after buying an additional 7,403,778 shares during the last quarter. BlackRock Inc. lifted its position in Medtronic by 4.7% during the 4th quarter. BlackRock Inc. now owns 107,903,362 shares of the medical technology company’s stock worth $11,162,603,000 after buying an additional 4,883,180 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Medtronic during the 1st quarter worth about $481,525,000. Finally, Renaissance Technologies LLC increased its position in Medtronic by 680.7% in the 4th quarter. Renaissance Technologies LLC now owns 3,574,541 shares of the medical technology company’s stock valued at $369,786,000 after acquiring an additional 3,116,700 shares in the last quarter. 79.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MDT has been the topic of several research analyst reports. StockNews.com cut shares of Medtronic from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 24th. Cowen upped their price target on Medtronic to $125.00 in a research note on Monday, May 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on Medtronic from $149.00 to $121.00 in a research report on Friday, May 27th. Stifel Nicolaus dropped their price objective on Medtronic from $125.00 to $105.00 in a report on Monday, July 18th. Finally, Atlantic Securities lowered shares of Medtronic from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $125.00 to $105.00 in a research note on Wednesday, June 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $111.52.

Medtronic Trading Up 2.1 %

Shares of NYSE:MDT opened at $89.73 on Monday. The firm has a market cap of $119.26 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 2.36 and a beta of 0.75. The company has a quick ratio of 1.23, a current ratio of 1.58 and a debt-to-equity ratio of 0.33. Medtronic plc has a 12 month low of $85.66 and a 12 month high of $133.97. The company’s fifty day simple moving average is $90.94 and its 200 day simple moving average is $98.63.

Medtronic (NYSE:MDTGet Rating) last issued its quarterly earnings results on Tuesday, August 23rd. The medical technology company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. Medtronic had a return on equity of 13.64% and a net margin of 16.75%. During the same period last year, the business earned $1.41 EPS. As a group, research analysts forecast that Medtronic plc will post 5.53 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 23rd will be issued a $0.68 dividend. The ex-dividend date is Thursday, September 22nd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.03%. Medtronic’s dividend payout ratio (DPR) is presently 70.28%.

Medtronic Profile

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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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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