A. D. Beadell Investment Counsel Inc. Sells 565 Shares of Medtronic plc (NYSE:MDT)

A. D. Beadell Investment Counsel Inc. decreased its stake in Medtronic plc (NYSE:MDT) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,540 shares of the medical technology company’s stock after selling 565 shares during the quarter. Medtronic accounts for about 2.6% of A. D. Beadell Investment Counsel Inc.’s portfolio, making the stock its 13th largest position. A. D. Beadell Investment Counsel Inc.’s holdings in Medtronic were worth $2,690,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. DMC Group LLC raised its position in Medtronic by 2.7% in the 2nd quarter. DMC Group LLC now owns 10,072 shares of the medical technology company’s stock valued at $887,000 after buying an additional 261 shares during the last quarter. Saxon Interests Inc. lifted its position in shares of Medtronic by 18.5% in the second quarter. Saxon Interests Inc. now owns 7,996 shares of the medical technology company’s stock worth $704,000 after purchasing an additional 1,246 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Medtronic by 4.7% during the second quarter. Pacer Advisors Inc. now owns 103,728 shares of the medical technology company’s stock worth $9,138,000 after purchasing an additional 4,691 shares during the last quarter. Keel Point LLC grew its position in Medtronic by 9.4% in the second quarter. Keel Point LLC now owns 4,309 shares of the medical technology company’s stock valued at $380,000 after purchasing an additional 369 shares in the last quarter. Finally, Valicenti Advisory Services Inc. increased its stake in Medtronic by 0.6% in the 2nd quarter. Valicenti Advisory Services Inc. now owns 69,304 shares of the medical technology company’s stock valued at $6,106,000 after buying an additional 403 shares during the last quarter. 80.75% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Price Performance

NYSE:MDT traded down $0.45 on Tuesday, hitting $82.35. The company had a trading volume of 1,823,460 shares, compared to its average volume of 5,678,781. The firm has a 50 day moving average of $84.16 and a two-hundred day moving average of $84.35. The stock has a market capitalization of $109.57 billion, a price-to-earnings ratio of 30.54, a PEG ratio of 2.87 and a beta of 0.71. Medtronic plc has a 52 week low of $75.76 and a 52 week high of $92.02. The company has a current ratio of 2.42, a quick ratio of 1.79 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.09. Medtronic had a return on equity of 13.81% and a net margin of 11.47%. The company had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.57 billion. During the same quarter last year, the business posted $1.13 EPS. Medtronic’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts anticipate that Medtronic plc will post 5.12 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 22nd will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.76 annualized dividend and a yield of 3.35%. Medtronic’s dividend payout ratio is presently 101.85%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group raised their price objective on Medtronic from $79.00 to $82.00 and gave the company a “sell” rating in a report on Wednesday, August 23rd. Truist Financial cut their price target on shares of Medtronic from $93.00 to $90.00 in a research note on Friday, May 26th. 22nd Century Group restated an “initiates” rating on shares of Medtronic in a research note on Friday, June 30th. Wells Fargo & Company raised their target price on shares of Medtronic from $100.00 to $102.00 and gave the company an “overweight” rating in a research note on Wednesday, August 23rd. Finally, StockNews.com downgraded Medtronic from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $91.67.

Insiders Place Their Bets

In other news, EVP Gregory L. Smith sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $83.84, for a total transaction of $838,400.00. Following the completion of the transaction, the executive vice president now directly owns 46,723 shares in the company, valued at $3,917,256.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Brett A. Wall sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $87.97, for a total transaction of $175,940.00. Following the completion of the sale, the executive vice president now owns 23,948 shares of the company’s stock, valued at $2,106,705.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory L. Smith sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $83.84, for a total value of $838,400.00. Following the completion of the transaction, the executive vice president now directly owns 46,723 shares in the company, valued at $3,917,256.32. The disclosure for this sale can be found here. Insiders have sold 19,866 shares of company stock valued at $1,688,839 in the last ninety days. 0.30% of the stock is currently owned by insiders.

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.