Medtronic plc (NYSE:MDT) Shares Bought by Financial & Tax Architects LLC

Financial & Tax Architects LLC raised its holdings in Medtronic plc (NYSE:MDT) by 5.0% during the 4th quarter, Holdings Channel reports. The firm owned 75,222 shares of the medical technology company’s stock after buying an additional 3,572 shares during the quarter. Medtronic makes up about 1.5% of Financial & Tax Architects LLC’s holdings, making the stock its 27th largest holding. Financial & Tax Architects LLC’s holdings in Medtronic were worth $6,009,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Wallington Asset Management LLC grew its holdings in Medtronic by 0.7% in the fourth quarter. Wallington Asset Management LLC now owns 194,542 shares of the medical technology company’s stock valued at $15,540,000 after purchasing an additional 1,413 shares during the period. CGN Advisors LLC grew its holdings in Medtronic by 14.1% in the fourth quarter. CGN Advisors LLC now owns 37,187 shares of the medical technology company’s stock valued at $2,971,000 after purchasing an additional 4,601 shares during the period. Verity & Verity LLC grew its holdings in Medtronic by 1.5% in the fourth quarter. Verity & Verity LLC now owns 178,781 shares of the medical technology company’s stock valued at $14,281,000 after purchasing an additional 2,683 shares during the period. Arkadios Wealth Advisors grew its holdings in Medtronic by 6.4% in the fourth quarter. Arkadios Wealth Advisors now owns 64,624 shares of the medical technology company’s stock valued at $5,162,000 after purchasing an additional 3,899 shares during the period. Finally, O Keefe Stevens Advisory Inc. grew its holdings in Medtronic by 37.4% in the fourth quarter. O Keefe Stevens Advisory Inc. now owns 7,460 shares of the medical technology company’s stock valued at $596,000 after purchasing an additional 2,031 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MDT shares. Robert W. Baird lowered their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Sanford C. Bernstein lifted their price target on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Truist Financial lowered their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Barclays lifted 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. Finally, Wells Fargo & Company lowered their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. One investment 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. According to MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus target price of $95.00.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s 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 sale, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Medtronic Trading Up 1.2 %

NYSE:MDT traded up $1.07 on Friday, reaching $88.23. The company’s stock had a trading volume of 9,577,939 shares, compared to its average volume of 5,401,241. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The firm has a market cap of $113.13 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 2.28 and a beta of 0.83. The stock has a 50 day moving average price of $83.63 and a 200 day moving average price of $85.03.

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

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.17%. Medtronic’s dividend payout ratio is currently 85.63%.

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.