Lpwm LLC Sells 725 Shares of Medtronic plc (NYSE:MDT)

Lpwm LLC trimmed its position in Medtronic plc (NYSE:MDTGet Rating) by 18.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,142 shares of the medical technology company’s stock after selling 725 shares during the period. Lpwm LLC’s holdings in Medtronic were worth $353,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in Medtronic during the fourth quarter worth about $25,000. PYA Waltman Capital LLC bought a new stake in Medtronic during the fourth quarter worth about $25,000. Horan Securities Inc. bought a new stake in Medtronic during the fourth quarter worth about $25,000. Curi Wealth Management LLC bought a new stake in Medtronic during the fourth quarter worth about $27,000. Finally, Kenfarb & CO. bought a new stake in Medtronic during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 80.23% of the company’s stock.

Shares of NYSE:MDT opened at $89.25 on Thursday. The company has a market capitalization of $119.73 billion, a P/E ratio of 23.93, a P/E/G ratio of 2.26 and a beta of 0.74. Medtronic plc has a 1 year low of $86.95 and a 1 year high of $135.89. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.86 and a quick ratio of 1.49. The business’s 50 day simple moving average is $100.73 and its 200 day simple moving average is $104.38.

Medtronic (NYSE:MDTGet Rating) last issued its quarterly earnings results on Thursday, May 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.04). The company had revenue of $8.09 billion for the quarter, compared to analyst estimates of $8.43 billion. Medtronic had a return on equity of 14.50% and a net margin of 15.90%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.50 EPS. On average, sell-side analysts anticipate that Medtronic plc will post 5.56 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, June 24th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Thursday, June 23rd. This is a boost from Medtronic’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 3.05%. Medtronic’s dividend payout ratio is presently 67.56%.

Several research firms have issued reports on MDT. Sanford C. Bernstein restated a “buy” rating and issued a $122.00 price objective on shares of Medtronic in a research note on Friday, May 20th. Raymond James dropped their price objective on Medtronic from $116.00 to $109.00 in a research note on Tuesday, May 31st. Piper Sandler dropped their price objective on Medtronic from $105.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, May 26th. Truist Financial dropped their price objective on Medtronic from $121.00 to $111.00 and set a “hold” rating on the stock in a research note on Friday, May 27th. Finally, Needham & Company LLC lowered Medtronic from a “buy” rating to a “hold” rating in a research note on Friday, May 27th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and an average price target of $121.55.

Medtronic Company Profile (Get Rating)

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; 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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