Etesian Wealth Advisors Inc. Sells 1,024 Shares of Medtronic plc (NYSE:MDT)

Etesian Wealth Advisors Inc. cut its holdings in shares of Medtronic plc (NYSE:MDT) by 9.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,021 shares of the medical technology company’s stock after selling 1,024 shares during the quarter. Etesian Wealth Advisors Inc.’s holdings in Medtronic were worth $873,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Fortitude Family Office LLC bought a new position in Medtronic in the fourth quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. grew its stake in shares of Medtronic by 293.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock valued at $26,000 after buying an additional 236,064 shares in the last quarter. MeadowBrook Investment Advisors LLC acquired a new position in Medtronic during the fourth quarter worth $27,000. Financial Gravity Asset Management Inc. raised its position in Medtronic by 317.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 279 shares in the last quarter. Finally, Fortis Group Advisors LLC lifted its stake in Medtronic by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock valued at $38,000 after acquiring an additional 230 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Michael Marinaro sold 854 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Geoffrey Martha sold 19,113 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the completion of the sale, the chief executive officer now owns 143,348 shares in the company, valued at approximately $12,008,261.96. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

MDT has been the topic of several recent analyst reports. UBS Group boosted their price objective on shares of Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a research note on Friday, May 24th. Wells Fargo & Company upped their price objective on Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Truist Financial cut their price objective on Medtronic from $90.00 to $88.00 and set a “hold” rating for the company in a research report on Friday, May 24th. The Goldman Sachs Group started coverage on Medtronic in a report on Thursday, May 30th. They set a “sell” rating and a $83.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a report on Wednesday, June 5th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $93.00.

Medtronic Stock Performance

Shares of MDT stock traded down $0.53 on Wednesday, hitting $79.88. The company’s stock had a trading volume of 2,286,017 shares, compared to its average volume of 6,270,438. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.03. The stock’s 50 day moving average is $81.85 and its 200-day moving average is $83.56. The company has a market capitalization of $102.43 billion, a PE ratio of 28.83, a PEG ratio of 2.34 and a beta of 0.83.

Medtronic (NYSE:MDT) last announced its earnings results on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.45 by $0.01. The company had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.44 billion. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the firm earned $1.57 earnings per share. Equities research analysts expect that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.70 per share. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. This represents a $2.80 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Friday, June 28th. Medtronic’s dividend payout ratio is 100.36%.

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.