Meridian Wealth Advisors LLC Sells 1,061 Shares of Medtronic plc (NYSE:MDT)

Meridian Wealth Advisors LLC trimmed its holdings in Medtronic plc (NYSE:MDT) by 19.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,369 shares of the medical technology company’s stock after selling 1,061 shares during the period. Meridian Wealth Advisors LLC’s holdings in Medtronic were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Evexia Wealth LLC raised its position in Medtronic by 1.7% during the fourth quarter. Evexia Wealth LLC now owns 27,438 shares of the medical technology company’s stock valued at $2,404,000 after purchasing an additional 458 shares in the last quarter. EdgeRock Capital LLC acquired a new position in Medtronic during the fourth quarter valued at approximately $82,000. Everpar Advisors LLC acquired a new position in Medtronic during the fourth quarter valued at approximately $545,000. Gryphon Financial Partners LLC acquired a new position in shares of Medtronic during the fourth quarter worth $220,000. Finally, Barlow Wealth Partners Inc. acquired a new position in shares of Medtronic during the fourth quarter worth $233,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Up 0.6 %

Shares of MDT traded up $0.49 on Thursday, reaching $82.04. The company’s stock had a trading volume of 236,064 shares, compared to its average volume of 6,095,979. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.00. The stock has a market capitalization of $108.93 billion, a PE ratio of 25.97, a PEG ratio of 2.66 and a beta of 0.78. The firm has a fifty day moving average of $83.01 and a 200-day moving average of $81.69.

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

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were issued a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.36%. Medtronic’s dividend payout ratio is presently 87.90%.

Analyst Ratings Changes

Several research analysts have recently issued reports on MDT shares. Mizuho upped their price target on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a research note on Wednesday, February 21st. Truist Financial boosted their price objective on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. Finally, Oppenheimer boosted their price objective on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Hold” and a consensus target price of $94.91.

Insider Buying and Selling

In other news, 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 transaction of $71,001.56. Following the sale, the executive vice president now owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the sale, the executive vice president now owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sean Salmon sold 30,695 shares of the business’s 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 in the company, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. 0.30% 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.