Capital Investment Advisors LLC Sells 1,333 Shares of Medtronic plc (NYSE:MDT)

Capital Investment Advisors LLC reduced its position in Medtronic plc (NYSE:MDT) by 8.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,378 shares of the medical technology company’s stock after selling 1,333 shares during the quarter. Capital Investment Advisors LLC’s holdings in Medtronic were worth $1,355,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MDT. Toronto Dominion Bank lifted its stake in Medtronic by 109.0% during the first quarter. Toronto Dominion Bank now owns 802,643 shares of the medical technology company’s stock worth $64,674,000 after purchasing an additional 418,648 shares during the period. Trust Co. of Toledo NA OH lifted its position in shares of Medtronic by 20.6% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 17,220 shares of the medical technology company’s stock worth $1,517,000 after buying an additional 2,940 shares during the period. Viawealth LLC boosted its stake in Medtronic by 3.3% in the 1st quarter. Viawealth LLC now owns 12,085 shares of the medical technology company’s stock valued at $974,000 after buying an additional 390 shares in the last quarter. Argent Trust Co grew its position in Medtronic by 5.0% in the first quarter. Argent Trust Co now owns 40,743 shares of the medical technology company’s stock valued at $3,285,000 after acquiring an additional 1,948 shares during the period. Finally, Lincoln National Corp raised its stake in Medtronic by 16.1% during the first quarter. Lincoln National Corp now owns 11,669 shares of the medical technology company’s stock worth $941,000 after acquiring an additional 1,617 shares in the last quarter. Institutional investors and hedge funds own 80.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Medtronic from $100.00 to $102.00 and gave the stock an “overweight” rating in a report on Wednesday, August 23rd. Sanford C. Bernstein dropped their price objective on shares of Medtronic from $100.00 to $99.00 in a report on Friday, May 26th. StockNews.com downgraded Medtronic from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $89.00 price objective on shares of Medtronic in a research report on Wednesday, August 23rd. Finally, Truist Financial decreased their target price on Medtronic from $93.00 to $90.00 in a report on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $91.67.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $87.97, for a total value of $175,940.00. Following the completion of the sale, the executive vice president now owns 23,948 shares of the company’s stock, valued at $2,106,705.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Medtronic news, EVP Brett A. Wall sold 2,000 shares of the business’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $87.97, for a total value of $175,940.00. Following the completion of the transaction, the executive vice president now directly owns 23,948 shares of the company’s stock, valued at $2,106,705.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Marinaro sold 1,352 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $84.11, for a total value of $113,716.72. Following the sale, the executive vice president now directly owns 28,930 shares in the company, valued at approximately $2,433,302.30. The disclosure for this sale can be found here. Insiders have sold 19,866 shares of company stock valued at $1,688,839 in the last 90 days. 0.30% of the stock is owned by insiders.

Medtronic Price Performance

Shares of MDT stock opened at $82.77 on Tuesday. The firm’s 50 day moving average price is $84.16 and its two-hundred day moving average price is $84.35. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.79 and a current ratio of 2.42. Medtronic plc has a 52-week low of $75.76 and a 52-week high of $92.02. The stock has a market cap of $110.13 billion, a PE ratio of 30.54, a PEG ratio of 2.87 and a beta of 0.71.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.09. The business had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.57 billion. Medtronic had a return on equity of 13.81% and a net margin of 11.47%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the company earned $1.13 EPS. As a group, analysts forecast that Medtronic plc will post 5.12 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 22nd will be given a $0.69 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.33%. Medtronic’s dividend payout ratio is 101.85%.

Medtronic 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.