SWS Partners Sells 248 Shares of Medtronic PLC (NYSE:MDT)

SWS Partners lessened its position in Medtronic PLC (NYSE:MDT) by 1.8% during the second quarter, Holdings Channel.com reports. The fund owned 13,198 shares of the medical technology company’s stock after selling 248 shares during the period. Medtronic accounts for 1.6% of SWS Partners’ holdings, making the stock its 18th largest holding. SWS Partners’ holdings in Medtronic were worth $1,273,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MDT. Evolution Wealth Advisors LLC grew its holdings in Medtronic by 403.7% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 272 shares of the medical technology company’s stock worth $25,000 after acquiring an additional 218 shares during the last quarter. Price Wealth LLC boosted its stake in shares of Medtronic by 73.2% during the 2nd quarter. Price Wealth LLC now owns 291 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 123 shares in the last quarter. JFS Wealth Advisors LLC boosted its stake in shares of Medtronic by 64.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 311 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 122 shares in the last quarter. Balentine LLC bought a new stake in shares of Medtronic during the 1st quarter valued at about $33,000. Finally, Lion Street Advisors LLC bought a new stake in shares of Medtronic during the 1st quarter valued at about $36,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Shares of MDT traded down $2.63 during mid-day trading on Thursday, hitting $106.15. 5,027,885 shares of the company traded hands, compared to its average volume of 6,092,123. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.53 and a current ratio of 1.87. The stock has a 50-day moving average price of $99.50 and a two-hundred day moving average price of $97.02. Medtronic PLC has a 1 year low of $72.13 and a 1 year high of $122.15. The stock has a market cap of $144.43 billion, a price-to-earnings ratio of 32.43, a P/E/G ratio of 3.48 and a beta of 0.68.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 25th. The medical technology company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.41. Medtronic had a net margin of 15.80% and a return on equity of 10.47%. The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same period in the previous year, the company earned $1.26 earnings per share. The firm’s quarterly revenue was down 13.2% on a year-over-year basis. On average, analysts forecast that Medtronic PLC will post 3.98 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be issued a dividend of $0.58 per share. The ex-dividend date is Thursday, September 24th. This represents a $2.32 annualized dividend and a dividend yield of 2.19%. Medtronic’s payout ratio is 50.54%.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Medtronic from a “hold” rating to a “strong sell” rating and set a $84.00 target price on the stock. in a research note on Wednesday, July 29th. Citigroup lifted their target price on shares of Medtronic from $108.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Morgan Stanley lifted their target price on shares of Medtronic from $106.00 to $111.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 26th. Piper Sandler reissued a “buy” rating and set a $120.00 price objective on shares of Medtronic in a research note on Tuesday, August 11th. Finally, Credit Suisse Group boosted their price objective on shares of Medtronic from $117.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 26th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $115.78.

About Medtronic

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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