Medtronic plc (NYSE:MDT) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC cut its stake in shares of Medtronic plc (NYSE:MDT) by 8.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 12,607 shares of the medical technology company’s stock after selling 1,104 shares during the period. Avior Wealth Management LLC’s holdings in Medtronic were worth $1,007,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mutual Advisors LLC raised its position in shares of Medtronic by 12.7% in the 4th quarter. Mutual Advisors LLC now owns 46,168 shares of the medical technology company’s stock valued at $4,024,000 after purchasing an additional 5,190 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Medtronic by 5.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 1,154,272 shares of the medical technology company’s stock valued at $92,203,000 after purchasing an additional 64,533 shares in the last quarter. Marino Stram & Associates LLC raised its position in shares of Medtronic by 7.8% in the 4th quarter. Marino Stram & Associates LLC now owns 7,419 shares of the medical technology company’s stock valued at $593,000 after purchasing an additional 534 shares in the last quarter. Westside Investment Management Inc. raised its position in shares of Medtronic by 5.1% in the 4th quarter. Westside Investment Management Inc. now owns 18,474 shares of the medical technology company’s stock valued at $1,476,000 after purchasing an additional 890 shares in the last quarter. Finally, Magnus Financial Group LLC raised its position in shares of Medtronic by 16.9% in the 4th quarter. Magnus Financial Group LLC now owns 3,433 shares of the medical technology company’s stock valued at $274,000 after purchasing an additional 497 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MDT. Wells Fargo & Company cut their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Evercore ISI upped their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Citigroup upped their price target on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Truist Financial dropped their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. dropped their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus target price of $95.00.

Medtronic Stock Up 0.9 %

Shares of MDT stock opened at $90.07 on Friday. The stock has a market cap of $115.49 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83. Medtronic plc has a one year low of $75.96 and a one year high of $92.68. The stock has a fifty day moving average price of $83.70 and a 200 day moving average price of $85.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. Medtronic’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business earned $1.25 earnings per share. Analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.11%. Medtronic’s dividend payout ratio is currently 85.63%.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

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.