Ameritas Advisory Services LLC Has $269,000 Holdings in Medtronic PLC $MDT

Ameritas Advisory Services LLC cut its holdings in shares of Medtronic PLC (NYSE:MDT) by 83.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,824 shares of the medical technology company’s stock after selling 13,800 shares during the period. Ameritas Advisory Services LLC’s holdings in Medtronic were worth $269,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Delos Wealth Advisors LLC acquired a new stake in shares of Medtronic in the second quarter valued at $27,000. Corundum Trust Company INC acquired a new stake in Medtronic in the 3rd quarter valued at about $27,000. Valley Wealth Managers Inc. bought a new position in shares of Medtronic in the third quarter worth about $29,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Medtronic during the third quarter worth approximately $33,000. Finally, Tripletail Wealth Management LLC acquired a new position in shares of Medtronic during the third quarter worth approximately $34,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of MDT opened at $99.57 on Tuesday. The stock has a market cap of $127.65 billion, a P/E ratio of 26.84, a price-to-earnings-growth ratio of 2.62 and a beta of 0.71. Medtronic PLC has a 1 year low of $79.55 and a 1 year high of $106.33. The stock’s 50-day moving average price is $99.25 and its two-hundred day moving average price is $96.53. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The company had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same period in the prior year, the business posted $1.26 EPS. Medtronic’s revenue was up 6.6% on a year-over-year basis. On average, equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, December 26th. Medtronic’s dividend payout ratio is presently 76.55%.

Analyst Ratings Changes

MDT has been the subject of a number of research reports. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a report on Monday, January 5th. The Goldman Sachs Group set a $111.00 price objective on Medtronic and gave the company a “neutral” rating in a research report on Wednesday, November 19th. Wells Fargo & Company initiated coverage on Medtronic in a research report on Friday, January 30th. They set an “overweight” rating and a $114.00 target price for the company. Morgan Stanley upped their price target on Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, November 19th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $110.00 price target on shares of Medtronic in a report on Wednesday, November 19th. Sixteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $111.21.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).