Etesian Wealth Advisors Inc. Sells 488 Shares of Medtronic plc (NYSE:MDT)

Etesian Wealth Advisors Inc. lowered its holdings in Medtronic plc (NYSE:MDT) by 5.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,970 shares of the medical technology company’s stock after selling 488 shares during the period. Etesian Wealth Advisors Inc.’s holdings in Medtronic were worth $717,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC bought a new position in Medtronic in the third quarter valued at about $27,000. Darwin Wealth Management LLC bought a new stake in Medtronic during the third quarter valued at $27,000. Highline Wealth Partners LLC acquired a new stake in Medtronic during the third quarter worth approximately $27,000. J. Stern & Co. LLP bought a new stake in shares of Medtronic in the 3rd quarter valued at $30,000. Finally, Stephens Consulting LLC raised its holdings in shares of Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 204 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction dated 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 owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Medtronic Stock Up 0.7 %

NYSE MDT opened at $91.62 on Thursday. The firm has a market capitalization of $117.48 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 2.57 and a beta of 0.84. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08. The company has a fifty day moving average of $84.58 and a two-hundred day moving average of $86.24. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (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 firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the previous year, the business earned $1.25 earnings per share. Medtronic’s quarterly revenue was up 5.2% on a year-over-year basis. On average, analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.06%. Medtronic’s payout ratio is 85.63%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MDT shares. Wells Fargo & Company lowered their target price on shares of 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. lowered their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Sanford C. Bernstein lifted their target price 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. Barclays increased their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $95.00.

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.