Avior Wealth Management LLC Has $1.01 Million Position in Medtronic plc (NYSE:MDT)

Avior Wealth Management LLC decreased its position in shares of Medtronic plc (NYSE:MDT) by 8.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,607 shares of the medical technology company’s stock after selling 1,104 shares during the quarter. Avior Wealth Management LLC’s holdings in Medtronic were worth $1,007,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Clear Harbor Asset Management LLC grew its stake in Medtronic by 1.2% in the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after acquiring an additional 111 shares during the period. Guardian Wealth Management Inc. grew its stake in Medtronic by 0.9% in the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock valued at $1,182,000 after acquiring an additional 115 shares during the period. First PREMIER Bank grew its stake in Medtronic by 1.8% in the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after acquiring an additional 116 shares during the period. First City Capital Management Inc. grew its stake in Medtronic by 2.9% in the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock valued at $371,000 after acquiring an additional 116 shares during the period. Finally, Hardy Reed LLC grew its stake in Medtronic by 4.4% in the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock valued at $247,000 after acquiring an additional 116 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on MDT. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Evercore ISI raised their target price on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Wells Fargo & Company dropped their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Finally, Citigroup raised their target price on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and an average target price of $95.00.

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Medtronic Stock Performance

Shares of Medtronic stock opened at $90.07 on Friday. The firm has a market capitalization of $115.49 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83. The business’s fifty day simple moving average is $83.70 and its 200 day simple moving average is $85.41. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. As a group, analysts anticipate that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. Medtronic’s payout ratio is presently 85.63%.

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.