Orion Portfolio Solutions LLC increased its stake in Medtronic PLC (NYSE:MDT) by 3.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,545 shares of the medical technology company’s stock after buying an additional 209 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Medtronic were worth $600,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Cpwm LLC grew its stake in Medtronic by 3.3% during the 2nd quarter. Cpwm LLC now owns 3,113 shares of the medical technology company’s stock valued at $285,000 after purchasing an additional 98 shares in the last quarter. Birch Hill Investment Advisors LLC grew its stake in Medtronic by 4.0% during the 2nd quarter. Birch Hill Investment Advisors LLC now owns 2,585 shares of the medical technology company’s stock valued at $237,000 after purchasing an additional 100 shares in the last quarter. Pratt Collard Advisory Partners LLC grew its stake in Medtronic by 0.4% during the 2nd quarter. Pratt Collard Advisory Partners LLC now owns 23,928 shares of the medical technology company’s stock valued at $2,194,000 after purchasing an additional 107 shares in the last quarter. Lionsbridge Wealth Management LLC grew its stake in Medtronic by 1.3% during the 2nd quarter. Lionsbridge Wealth Management LLC now owns 8,626 shares of the medical technology company’s stock valued at $796,000 after purchasing an additional 108 shares in the last quarter. Finally, Harrington Investments INC grew its stake in Medtronic by 1.0% during the 2nd quarter. Harrington Investments INC now owns 11,177 shares of the medical technology company’s stock valued at $1,025,000 after purchasing an additional 109 shares in the last quarter. Institutional investors and hedge funds own 79.90% of the company’s stock.

In other news, EVP Hoedt Rob Ten sold 9,563 shares of the business’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $105.05, for a total value of $1,004,593.15. Following the sale, the executive vice president now owns 53,060 shares of the company’s stock, valued at approximately $5,573,953. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is currently owned by insiders.

Medtronic stock traded up $0.58 during mid-day trading on Wednesday, hitting $108.15. 100,555 shares of the company’s stock traded hands, compared to its average volume of 6,024,534. The firm has a 50 day moving average price of $101.92 and a 200 day moving average price of $96.42. The company has a quick ratio of 1.53, a current ratio of 1.87 and a debt-to-equity ratio of 0.45. The company has a market cap of $144.60 billion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 3.41 and a beta of 0.68. Medtronic PLC has a one year low of $72.13 and a one year high of $122.15.

Medtronic (NYSE:MDT) last announced its earnings results 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. The firm had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $5.48 billion. Medtronic had a return on equity of 10.47% and a net margin of 15.80%. The firm’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 EPS. On average, analysts expect that Medtronic PLC will post 3.96 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 25th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 24th. Medtronic’s payout ratio is currently 50.54%.

MDT has been the subject of several research reports. Citigroup lifted their target price on Medtronic from $108.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. BTIG Research lifted their target price on Medtronic from $102.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Piper Sandler reiterated a “buy” rating and issued a $120.00 target price on shares of Medtronic in a research report on Tuesday, August 11th. Deutsche Bank decreased their target price on Medtronic from $123.00 to $118.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Finally, Cfra upgraded Medtronic from a “buy” rating to a “strong-buy” rating and decreased their target price for the stock from $127.00 to $121.00 in a research report on Thursday, May 21st. Three analysts have rated the stock with a sell rating, four have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Medtronic has a consensus rating of “Buy” and a consensus target price of $115.75.

Medtronic Company Profile

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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