Exencial Wealth Advisors LLC Has $15.88 Million Stock Position in Medtronic plc (NYSE:MDT)

Exencial Wealth Advisors LLC reduced its stake in shares of Medtronic plc (NYSE:MDT) by 3.1% during the 3rd quarter, HoldingsChannel.com reports. The firm 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 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Advisors Management Group Inc. ADV lifted its position in shares of Medtronic by 2.4% during the 3rd quarter. Advisors Management Group Inc. ADV now owns 44,833 shares of the medical technology company’s stock worth $4,036,000 after buying an additional 1,041 shares during the last quarter. Blake Schutter Theil Wealth Advisors LLC bought a new stake in shares of Medtronic during the 3rd quarter worth $700,000. Two Point Capital Management Inc. lifted its position in shares of Medtronic by 1.1% during the 3rd quarter. Two Point Capital Management Inc. now owns 91,722 shares of the medical technology company’s stock worth $8,258,000 after buying an additional 965 shares during the last quarter. JNBA Financial Advisors lifted its position in shares of Medtronic by 1.7% during the 3rd quarter. JNBA Financial Advisors now owns 28,588 shares of the medical technology company’s stock worth $2,574,000 after buying an additional 480 shares during the last quarter. Finally, Spinnaker Trust lifted its position in shares of Medtronic by 0.7% during the 3rd quarter. Spinnaker Trust now owns 24,808 shares of the medical technology company’s stock worth $2,233,000 after buying an additional 162 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in 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 report on Wednesday, August 21st. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. Truist Financial increased their target price on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, October 14th. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and increased their target price for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. Finally, Robert W. Baird increased their target price on Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and an average price target of $95.36.

Medtronic Price Performance

Shares of MDT opened at $90.09 on Thursday. Medtronic plc has a 1 year low of $69.32 and a 1 year high of $92.68. 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 company has a market capitalization of $115.54 billion, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of 2.55 and a beta of 0.84. The business has a 50-day moving average of $89.69 and a 200-day moving average of $84.38.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping 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 company had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. During the same period last year, the company earned $1.20 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.11%. Medtronic’s dividend payout ratio 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.