Kingswood Wealth Advisors LLC Has $486,000 Position in Medtronic plc (NYSE:MDT)

Kingswood Wealth Advisors LLC lowered its holdings in shares of Medtronic plc (NYSE:MDT) by 59.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,090 shares of the medical technology company’s stock after selling 8,952 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Medtronic were worth $486,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Copley Financial Group Inc. acquired a new stake in shares of Medtronic during the third quarter worth about $694,000. Olstein Capital Management L.P. raised its position in shares of Medtronic by 19.2% during the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock worth $7,833,000 after purchasing an additional 14,000 shares during the period. Franklin Street Advisors Inc. NC raised its position in shares of Medtronic by 32.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock worth $5,873,000 after purchasing an additional 18,057 shares during the period. Y Intercept Hong Kong Ltd raised its position in shares of Medtronic by 322.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock worth $6,626,000 after purchasing an additional 56,178 shares during the period. Finally, Czech National Bank raised its position in shares of Medtronic by 6.4% during the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock worth $22,212,000 after purchasing an additional 16,786 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MDT shares. JPMorgan Chase & Co. dropped their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Barclays lifted their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Sanford C. Bernstein lifted their target price on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Finally, Truist Financial dropped their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $95.00.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Medtronic Stock Performance

Shares of NYSE MDT opened at $92.01 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08. The stock has a 50 day moving average of $84.14 and a 200-day moving average of $85.87. The company has a market capitalization of $117.98 billion, a P/E ratio of 28.14, a P/E/G ratio of 2.49 and a beta of 0.83.

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. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the company posted $1.25 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities research analysts predict that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders 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 dividend yield of 3.04%. Medtronic’s dividend payout ratio is currently 85.63%.

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.