Blake Schutter Theil Wealth Advisors LLC Sells 2,878 Shares of Medtronic plc (NYSE:MDT)

Blake Schutter Theil Wealth Advisors LLC decreased its position in shares of Medtronic plc (NYSE:MDT) by 37.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,898 shares of the medical technology company’s stock after selling 2,878 shares during the quarter. Blake Schutter Theil Wealth Advisors LLC’s holdings in Medtronic were worth $391,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Philip James Wealth Mangement LLC boosted its position in Medtronic by 10.6% during the 3rd quarter. Philip James Wealth Mangement LLC now owns 2,900 shares of the medical technology company’s stock worth $261,000 after buying an additional 279 shares during the period. Hollencrest Capital Management raised its stake in shares of Medtronic by 43.9% during the third quarter. Hollencrest Capital Management now owns 737 shares of the medical technology company’s stock valued at $66,000 after acquiring an additional 225 shares during the last quarter. Equitable Trust Co. lifted its holdings in shares of Medtronic by 23.0% during the third quarter. Equitable Trust Co. now owns 20,677 shares of the medical technology company’s stock worth $1,862,000 after purchasing an additional 3,869 shares during the period. CWA Asset Management Group LLC bought a new stake in shares of Medtronic in the third quarter worth $418,000. Finally, Beta Wealth Group Inc. increased its holdings in Medtronic by 4.6% in the third quarter. Beta Wealth Group Inc. now owns 6,918 shares of the medical technology company’s stock valued at $623,000 after purchasing an additional 306 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the topic of several recent research reports. Sanford C. Bernstein lifted their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Robert W. Baird lifted their price objective on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and increased their target price for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Finally, Truist Financial reduced their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $96.07.

Medtronic Price Performance

MDT stock opened at $94.58 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 company’s 50-day moving average is $88.33 and its 200-day moving average is $87.80. The stock has a market capitalization of $121.30 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $95.57.

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

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Friday, March 28th. Medtronic’s payout ratio is currently 85.11%.

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.