Ameritas Advisory Services LLC Has $269,000 Stake in Medtronic PLC $MDT

Ameritas Advisory Services LLC lowered its holdings in shares of Medtronic PLC (NYSE:MDT) by 83.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,824 shares of the medical technology company’s stock after selling 13,800 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Medtronic were worth $269,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Medtronic by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock worth $11,062,693,000 after purchasing an additional 1,895,165 shares in the last quarter. Geode Capital Management LLC lifted its stake in Medtronic by 1.1% in the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock valued at $2,448,699,000 after buying an additional 310,684 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Medtronic by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company’s stock valued at $2,044,637,000 after buying an additional 192,410 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Medtronic by 0.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company’s stock worth $2,008,278,000 after acquiring an additional 98,220 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Medtronic by 3.9% during the second quarter. Invesco Ltd. now owns 17,647,149 shares of the medical technology company’s stock worth $1,538,302,000 after acquiring an additional 666,557 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Truist Financial cut their price objective on shares of Medtronic from $110.00 to $107.00 and set a “hold” rating on the stock in a research report on Thursday, December 18th. Wall Street Zen raised Medtronic from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Royal Bank Of Canada boosted their price target on Medtronic from $111.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, November 19th. Citigroup began coverage on Medtronic in a report on Tuesday, February 3rd. They set a “buy” rating and a $117.00 price objective for the company. Finally, UBS Group reissued a “neutral” rating and issued a $104.00 target price on shares of Medtronic in a research report on Wednesday, February 4th. Sixteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.21.

Medtronic Price Performance

Shares of MDT opened at $99.57 on Tuesday. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57. The company’s fifty day simple moving average is $99.25 and its 200 day simple moving average is $96.53. Medtronic PLC has a 1-year low of $79.55 and a 1-year high of $106.33. The company has a market cap of $127.65 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 2.62 and a beta of 0.71.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. The firm had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.26 earnings per share. On average, research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, December 26th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, December 26th. Medtronic’s dividend payout ratio (DPR) is 76.55%.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).