Leading biotech firm, Medtronic Plc MDT has been found to be an institutional investor favorite with 85% institutional ownership. The company has recently been experiencing fluctuating dynamics in the stock market with the purchase of MDT shares by Burns J W & Co. Inc. NY, Chemung Canal Trust Co., and Wealthcare Advisory Partners LLC, and sales by Aspiriant LLC, City Holding Co., and AdvisorNet Financial Inc. Medtronic's CFO, Karen Parkhill, has resigned, causing a slight slump in stock price.
Positive data for the company's MiniMed 780G System led to some respite. The firm's dividends are also increasing to $0.70. However, its overall financial prospects remain weak with a recent $7.4 billion drop. MDT’s FY24 earnings have exceeded estimates but the company's margins are down. Medtronic has paid €3.0 billion of senior notes and closed the public offering for the same. Despite this, the company's stock underperformed compared to competitors,while the company raised its FY24 guidance based on strong Q3 results
Medtronic Plc MDT News Analytics from Tue, 21 Nov 2023 08:00:00 GMT to Sun, 30 Jun 2024 14:25:40 GMT - Rating -1 - Innovation -5 - Information -2 - Rumor -4
