Exencial Wealth Advisors LLC Sells 5,631 Shares of Medtronic plc (NYSE:MDT)

Exencial Wealth Advisors LLC decreased its position in Medtronic plc (NYSE:MDT) by 3.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 176,427 shares of the medical technology company’s stock after selling 5,631 shares during the period. Exencial Wealth Advisors LLC’s holdings in Medtronic were worth $15,884,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new stake in Medtronic in the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new stake in Medtronic in the 3rd quarter valued at approximately $27,000. Lynx Investment Advisory bought a new stake in Medtronic in the 2nd quarter valued at approximately $28,000. Gleason Group Inc. bought a new stake in Medtronic in the 2nd quarter valued at approximately $42,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Medtronic during the 2nd quarter worth approximately $43,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MDT shares. Piper Sandler upped their price objective on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. Wells Fargo & Company upped their price objective on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Stifel Nicolaus upped their price objective on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $95.36.

Medtronic Stock Performance

Shares of NYSE MDT opened at $90.09 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. The stock’s fifty day moving average price is $89.69 and its two-hundred day moving average price is $84.38. Medtronic plc has a one year low of $69.32 and a one year high of $92.68. The firm has a market cap of $115.54 billion, a price-to-earnings ratio of 30.44, a P/E/G ratio of 2.55 and a beta of 0.84.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. During the same period in the prior year, the firm posted $1.20 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities analysts forecast that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is currently 94.59%.

Medtronic Company 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.