IVC Wealth Advisors LLC Has $405,000 Stock Position in Medtronic plc (NYSE:MDT)

IVC Wealth Advisors LLC lessened its holdings in shares of Medtronic plc (NYSE:MDT) by 7.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,069 shares of the medical technology company’s stock after selling 387 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Medtronic were worth $405,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Darwin Wealth Management LLC acquired a new position in shares of Medtronic in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic during the third quarter worth $27,000. J. Stern & Co. LLP bought a new stake in Medtronic in the 3rd quarter valued at $30,000. Finally, Chelsea Counsel Co. acquired a new stake in shares of Medtronic in the 3rd quarter valued at about $45,000. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now owns 40,708 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MDT. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. JPMorgan Chase & Co. cut their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Truist Financial reduced their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Sanford C. Bernstein increased their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Finally, Evercore ISI upped their target price on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” 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 issued a strong buy rating to the stock. According to MarketBeat, Medtronic currently has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Price Performance

NYSE:MDT opened at $89.30 on Friday. The company has a market cap of $114.51 billion, a P/E ratio of 27.31, a P/E/G ratio of 2.50 and a beta of 0.83. The firm’s fifty day moving average price is $83.64 and its two-hundred day moving average price is $85.39. Medtronic plc has a one year low of $75.96 and a one year high of $92.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last announced its quarterly 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. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. Medtronic’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 EPS. Equities analysts expect that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors 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 yield of 3.14%. Medtronic’s dividend payout ratio (DPR) 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.