Wealth Alliance Sells 688 Shares of Medtronic plc (NYSE:MDT)

Wealth Alliance lessened its stake in shares of Medtronic plc (NYSE:MDT) by 14.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,095 shares of the medical technology company’s stock after selling 688 shares during the period. Wealth Alliance’s holdings in Medtronic were worth $327,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in shares of Medtronic by 8,908.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock valued at $116,896,000 after purchasing an additional 1,284,002 shares in the last quarter. CENTRAL TRUST Co boosted its holdings in shares of Medtronic by 3.5% in the 3rd quarter. CENTRAL TRUST Co now owns 10,076 shares of the medical technology company’s stock valued at $907,000 after purchasing an additional 342 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Medtronic by 1.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 58,474 shares of the medical technology company’s stock valued at $5,264,000 after purchasing an additional 1,034 shares in the last quarter. Mcdaniel Terry & Co. boosted its holdings in shares of Medtronic by 3.0% in the 3rd quarter. Mcdaniel Terry & Co. now owns 8,568 shares of the medical technology company’s stock valued at $771,000 after purchasing an additional 250 shares in the last quarter. Finally, Global Trust Asset Management LLC boosted its holdings in shares of Medtronic by 7.6% in the 3rd quarter. Global Trust Asset Management LLC now owns 3,665 shares of the medical technology company’s stock valued at $330,000 after purchasing an additional 259 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Medtronic stock opened at $89.95 on Friday. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The business’s 50 day simple moving average is $86.08 and its 200 day simple moving average is $87.10. The company has a market cap of $115.34 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 2.46 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Sell-side analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.11%. Medtronic’s payout ratio is 85.11%.

Insider Activity at Medtronic

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 shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at $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 available through this link. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

MDT has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a report on Wednesday. Sanford C. Bernstein raised their target price on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Truist Financial reduced their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Barclays raised their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, UBS Group raised their price objective on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $95.00.

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.