Xcel Wealth Management LLC Sells 150 Shares of Medtronic plc (NYSE:MDT)

Xcel Wealth Management LLC lessened its position in shares of Medtronic plc (NYSE:MDT) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,276 shares of the medical technology company’s stock after selling 150 shares during the quarter. Xcel Wealth Management LLC’s holdings in Medtronic were worth $901,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Darwin Wealth Management LLC purchased a new stake in Medtronic during the 3rd quarter worth approximately $27,000. Stephens Consulting LLC grew its position in Medtronic by 145.7% during 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 purchased a new stake in Medtronic during the 3rd quarter worth approximately $30,000. Fiduciary Advisors Inc. purchased a new stake in Medtronic during the 4th quarter worth approximately $36,000. Finally, Kieckhefer Group LLC purchased a new stake in Medtronic during the 4th quarter worth approximately $40,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

MDT opened at $92.00 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 firm has a fifty day moving average price of $87.08 and a 200 day moving average price of $87.42. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The stock has a market cap of $117.97 billion, a P/E ratio of 27.96, a P/E/G ratio of 2.22 and a beta of 0.84.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.11%.

Wall Street Analysts Forecast Growth

MDT has been the topic of several research analyst reports. Wells Fargo & Company dropped their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Robert W. Baird boosted their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. UBS Group upped their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. 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 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $95.00.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’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 completion of the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

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.