AIMZ Investment Advisors LLC Sells 170 Shares of Medtronic plc (NYSE:MDT)

AIMZ Investment Advisors LLC lowered its position in shares of Medtronic plc (NYSE:MDT) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,942 shares of the medical technology company’s stock after selling 170 shares during the period. AIMZ Investment Advisors LLC’s holdings in Medtronic were worth $1,433,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in MDT. Fortitude Family Office LLC bought a new position in Medtronic in the third quarter worth about $27,000. Integrated Advisors Network LLC increased its position in shares of Medtronic by 3.5% during the third quarter. Integrated Advisors Network LLC now owns 14,530 shares of the medical technology company’s stock worth $1,308,000 after purchasing an additional 498 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Medtronic during the 3rd quarter valued at $224,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic in the 3rd quarter worth $27,000. Finally, JFS Wealth Advisors LLC increased its position in Medtronic by 168.1% during the 3rd quarter. JFS Wealth Advisors LLC now owns 2,383 shares of the medical technology company’s stock valued at $215,000 after buying an additional 1,494 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

Shares of Medtronic stock opened at $90.67 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The stock has a market capitalization of $116.26 billion, a price-to-earnings ratio of 27.56, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. The business has a 50-day moving average of $86.86 and a 200 day moving average of $87.35. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08.

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

Medtronic Announces Dividend

The company 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 3.09%. Medtronic’s dividend payout ratio (DPR) is currently 85.11%.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction dated 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 sale, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MDT. Sanford C. Bernstein raised their price target on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Wells Fargo & Company decreased their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Truist Financial lowered their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Barclays raised 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.