Fullcircle Wealth LLC Sells 1,153 Shares of Medtronic plc (NYSE:MDT)

Fullcircle Wealth LLC decreased its position in shares of Medtronic plc (NYSE:MDT) by 4.2% during the third quarter, Holdings Channel.com reports. The fund owned 26,561 shares of the medical technology company’s stock after selling 1,153 shares during the quarter. Medtronic accounts for 1.1% of Fullcircle Wealth LLC’s investment portfolio, making the stock its 21st largest holding. Fullcircle Wealth LLC’s holdings in Medtronic were worth $2,406,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new stake in Medtronic during the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic during the third quarter valued at approximately $27,000. Lynx Investment Advisory bought a new stake in shares of Medtronic during the second quarter valued at approximately $28,000. Gleason Group Inc. bought a new stake in shares of Medtronic during the second quarter valued at approximately $42,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Medtronic during the second quarter valued at approximately $43,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Piper Sandler lifted their price objective on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. Finally, Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $98.00 to $105.00 in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $95.36.

Medtronic Trading Up 0.9 %

NYSE MDT traded up $0.82 on Friday, hitting $90.07. 5,052,408 shares of the stock were exchanged, compared to its average volume of 6,204,974. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The stock has a fifty day moving average price of $89.64 and a two-hundred day moving average price of $84.13. The firm has a market capitalization of $115.51 billion, a P/E ratio of 30.43, a P/E/G ratio of 2.59 and a beta of 0.84. Medtronic plc has a 52-week low of $69.32 and a 52-week high of $92.68.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. The company had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. Medtronic’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.20 earnings per share. Research analysts forecast that Medtronic plc will post 5.44 EPS for the current fiscal 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 paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio is currently 94.59%.

About Medtronic

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.