Kingsview Wealth Management LLC Lowers Stock Holdings in Medtronic plc (NYSE:MDT)

Kingsview Wealth Management LLC lessened its stake in shares of Medtronic plc (NYSE:MDT) by 10.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,726 shares of the medical technology company’s stock after selling 2,223 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Medtronic were worth $1,496,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in shares of Medtronic in the 3rd quarter worth $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic during the third quarter worth about $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic in the third quarter valued at about $27,000. Stephens Consulting LLC boosted its holdings in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 204 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new position in Medtronic during the 3rd quarter worth approximately $30,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on MDT. JPMorgan Chase & Co. reduced their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Wells Fargo & Company decreased their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Robert W. Baird cut their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Finally, Truist Financial decreased their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic has an average rating of “Hold” and a consensus target price of $95.00.

Medtronic Trading Up 0.9 %

Shares of Medtronic stock opened at $90.84 on Tuesday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The business has a 50 day moving average price of $84.85 and a 200 day moving average price of $86.48. The company has a market capitalization of $116.48 billion, a P/E ratio of 27.78, a P/E/G ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The company 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%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 earnings per share. Sell-side analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.08%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

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.