Medtronic plc (NYSE:MDT) Shares Sold by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC cut its stake in Medtronic plc (NYSE:MDT) by 17.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,216 shares of the medical technology company’s stock after selling 2,413 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Medtronic were worth $896,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new stake in Medtronic in the third quarter valued at $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic during the third quarter worth $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic during the third quarter worth $27,000. J. Stern & Co. LLP acquired a new stake in shares of Medtronic during the third quarter worth $30,000. Finally, Stephens Consulting LLC raised its holdings in shares of Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 204 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of MDT opened at $91.35 on Thursday. The firm has a 50-day moving average price of $85.04 and a 200 day moving average price of $86.65. The firm has a market capitalization of $117.14 billion, a PE ratio of 27.94, a P/E/G ratio of 2.57 and a beta of 0.84. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $93.08.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. Medtronic’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. On average, sell-side analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given 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 3.07%. Medtronic’s dividend payout ratio (DPR) is 85.63%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Sanford C. Bernstein increased their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Truist Financial dropped their target price 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. Robert W. Baird dropped their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given 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.com, Medtronic currently has an average rating of “Hold” and an average price target of $95.00.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

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.