Foundations Investment Advisors LLC Sells 9,198 Shares of Medtronic PLC $MDT

Foundations Investment Advisors LLC reduced its position in shares of Medtronic PLC (NYSE:MDT) by 18.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 41,872 shares of the medical technology company’s stock after selling 9,198 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Medtronic were worth $4,022,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MDT. Vanguard Group Inc. raised its stake in Medtronic by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock valued at $12,388,027,000 after purchasing an additional 1,888,381 shares in the last quarter. State Street Corp grew its stake in shares of Medtronic by 1.0% in the 3rd quarter. State Street Corp now owns 60,460,537 shares of the medical technology company’s stock worth $5,800,550,000 after buying an additional 625,992 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Medtronic by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock worth $2,665,832,000 after buying an additional 231,919 shares during the last quarter. Raymond James Financial Inc. raised its position in shares of Medtronic by 3.0% during the 3rd quarter. Raymond James Financial Inc. now owns 11,203,865 shares of the medical technology company’s stock valued at $1,067,055,000 after buying an additional 327,899 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Medtronic by 35.3% during the 3rd quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock valued at $970,456,000 after buying an additional 2,658,981 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Down 2.4%

Shares of MDT opened at $73.73 on Friday. The firm has a fifty day moving average price of $82.36 and a 200-day moving average price of $92.65. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $94.66 billion, a P/E ratio of 20.54, a P/E/G ratio of 1.80 and a beta of 0.62. Medtronic PLC has a 12-month low of $73.67 and a 12-month high of $106.33.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, March 27th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Friday, March 27th. Medtronic’s payout ratio is 79.11%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MDT shares. Leerink Partners reissued an “outperform” rating and set a $119.00 price objective on shares of Medtronic in a research note on Tuesday, March 10th. Truist Financial dropped their target price on Medtronic from $103.00 to $95.00 and set a “hold” rating for the company in a report on Wednesday, April 15th. Evercore set a $106.00 target price on Medtronic and gave the company an “outperform” rating in a research report on Thursday, April 9th. UBS Group lowered their price target on Medtronic from $104.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, April 22nd. Finally, Weiss Ratings lowered shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and a consensus target price of $106.45.

Medtronic Company 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).