Medtronic plc (NYSE:MDT) Shares Sold by Etesian Wealth Advisors Inc.

Etesian Wealth Advisors Inc. lowered its stake in shares of Medtronic plc (NYSE:MDT) by 5.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,970 shares of the medical technology company’s stock after selling 488 shares during the period. Etesian Wealth Advisors Inc.’s holdings in Medtronic were worth $717,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MDT. Beacon Financial Advisory LLC increased its position in Medtronic by 6.0% in the 4th quarter. Beacon Financial Advisory LLC now owns 9,256 shares of the medical technology company’s stock valued at $739,000 after acquiring an additional 520 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Medtronic by 17.0% during the 4th quarter. State of Alaska Department of Revenue now owns 186,211 shares of the medical technology company’s stock worth $14,874,000 after acquiring an additional 27,036 shares in the last quarter. YANKCOM Partnership acquired a new stake in Medtronic in the fourth quarter valued at $1,151,000. NovaPoint Capital LLC lifted its holdings in shares of Medtronic by 3.9% in the fourth quarter. NovaPoint Capital LLC now owns 32,485 shares of the medical technology company’s stock valued at $2,595,000 after purchasing an additional 1,233 shares in the last quarter. Finally, Trilogy Capital Inc. grew its holdings in Medtronic by 67.1% during the 4th quarter. Trilogy Capital Inc. now owns 6,822 shares of the medical technology company’s stock valued at $545,000 after buying an additional 2,740 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

MDT has been the subject of several recent analyst reports. Truist Financial lowered their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Barclays boosted their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Sanford C. Bernstein raised 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. Finally, JPMorgan Chase & Co. dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six 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 has a consensus rating of “Hold” and a consensus target price of $95.00.

Medtronic Stock Up 0.7 %

Shares of Medtronic stock opened at $91.62 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The company has a market capitalization of $117.48 billion, a P/E ratio of 28.02, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The business has a 50-day moving average of $84.58 and a two-hundred day moving average of $86.24. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. 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 prior year, the business posted $1.25 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities analysts predict that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The business also recently declared 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 was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.06%. Medtronic’s dividend payout ratio (DPR) is currently 85.63%.

Insider Transactions at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction on 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 in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by corporate insiders.

Medtronic Company 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.