Avior Wealth Management LLC Sells 195 Shares of Medtronic plc (NYSE:MDT)

Avior Wealth Management LLC decreased its position in shares of Medtronic plc (NYSE:MDT) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,500 shares of the medical technology company’s stock after selling 195 shares during the period. Avior Wealth Management LLC’s holdings in Medtronic were worth $1,112,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MDT. Hartford Financial Management Inc. increased its position in Medtronic by 425.0% during the 3rd quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock worth $25,000 after buying an additional 255 shares during the period. Fortitude Family Office LLC bought a new position in shares of Medtronic in the fourth quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. increased its position in shares of Medtronic by 293.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 236,064 shares during the period. Financial Gravity Asset Management Inc. increased its position in shares of Medtronic by 317.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 279 shares during the period. Finally, Princeton Global Asset Management LLC bought a new position in shares of Medtronic in the third quarter worth $31,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Medtronic stock opened at $79.08 on Thursday. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $92.02. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average price is $84.18 and its two-hundred day moving average price is $81.01. The stock has a market cap of $105.00 billion, a PE ratio of 25.18, a P/E/G ratio of 2.71 and a beta of 0.76.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The firm had revenue of $8.09 billion for the quarter, compared to analysts’ expectations of $7.95 billion. During the same quarter in the previous year, the business posted $1.30 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, analysts expect that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s payout ratio is 87.90%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MDT shares. Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. Mizuho raised their price target on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Oppenheimer raised their price target on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 21st. Finally, Truist Financial raised their price target on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.91.

Insider Activity

In other news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the sale, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

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.