Wealth Alliance Has $1 Million Stock Position in Medtronic plc (NYSE:MDT)

Wealth Alliance lowered its stake in Medtronic plc (NYSE:MDT) by 11.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,187 shares of the medical technology company’s stock after selling 1,528 shares during the quarter. Wealth Alliance’s holdings in Medtronic were worth $1,004,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Marino Stram & Associates LLC raised its stake in Medtronic by 1.8% during the 4th quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock worth $587,000 after buying an additional 126 shares during the period. St. James Investment Company LLC raised its stake in Medtronic by 20.5% during the 4th quarter. St. James Investment Company LLC now owns 385,160 shares of the medical technology company’s stock worth $31,729,000 after buying an additional 65,570 shares during the period. LifePlan Financial LLC acquired a new stake in Medtronic during the 4th quarter worth $1,497,000. VELA Investment Management LLC raised its stake in Medtronic by 14.5% during the 4th quarter. VELA Investment Management LLC now owns 40,401 shares of the medical technology company’s stock worth $3,328,000 after buying an additional 5,127 shares during the period. Finally, Capital Analysts LLC raised its stake in Medtronic by 1.5% during the 4th quarter. Capital Analysts LLC now owns 89,394 shares of the medical technology company’s stock worth $7,364,000 after buying an additional 1,337 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of NYSE MDT opened at $79.25 on Wednesday. The stock has a market capitalization of $105.23 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 2.74 and a beta of 0.76. The business has a 50-day moving average of $84.35 and a 200-day moving average of $81.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.04. The company had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. Medtronic’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 EPS. As a group, sell-side analysts predict that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s payout ratio is currently 87.90%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Oppenheimer raised their price objective on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 21st. Truist Financial lifted their price target on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research note on Wednesday, February 21st. Finally, Mizuho lifted their price target on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and a consensus target price of $94.91.

Insider Buying and Selling

In related news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the transaction, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the completion of the sale, the executive vice president now directly owns 48,289 shares in the company, valued at $4,110,842.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the sale, the executive vice president now owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Medtronic 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.