Medtronic plc (NYSE:MDT) Holdings Reduced by Beacon Harbor Wealth Advisors Inc.

Beacon Harbor Wealth Advisors Inc. decreased its position in Medtronic plc (NYSE:MDT) by 56.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,001 shares of the medical technology company’s stock after selling 41,046 shares during the period. Beacon Harbor Wealth Advisors Inc.’s holdings in Medtronic were worth $2,556,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MDT. Mainstream Capital Management LLC bought a new position in Medtronic in the 4th quarter worth about $26,000. Darwin Wealth Management LLC bought a new position in Medtronic in the 3rd quarter worth about $27,000. Stephens Consulting LLC grew its position in Medtronic by 145.7% in the 4th 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 last quarter. J. Stern & Co. LLP bought a new position in Medtronic in the 3rd quarter worth about $30,000. Finally, Fiduciary Advisors Inc. bought a new position in shares of Medtronic in the fourth quarter valued at approximately $36,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 1.2 %

Medtronic stock opened at $94.15 on Thursday. The firm’s 50 day moving average price is $87.82 and its two-hundred day moving average price is $87.68. The firm has a market cap of $120.75 billion, a price-to-earnings ratio of 28.62, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $95.57. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. On average, research analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction on Wednesday, January 8th. The shares were 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 owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MDT shares. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Wells Fargo & Company lowered their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Sanford C. Bernstein raised their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Robert W. Baird raised their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Barclays raised their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $96.07.

About Medtronic

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.