Walter & Keenan Wealth Management LLC IN ADV Lowers Stock Position in Medtronic plc (NYSE:MDT)

Walter & Keenan Wealth Management LLC IN ADV lessened its stake in Medtronic plc (NYSE:MDT) by 22.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,767 shares of the medical technology company’s stock after selling 7,964 shares during the period. Walter & Keenan Wealth Management LLC IN ADV’s holdings in Medtronic were worth $2,218,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new position in Medtronic in the third quarter valued at $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic in the 3rd quarter worth about $27,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic during the 3rd quarter valued at about $27,000. Stephens Consulting LLC raised its holdings in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after buying an additional 204 shares in the last quarter. Finally, J. Stern & Co. LLP bought a new stake in Medtronic in the 3rd quarter worth approximately $30,000. Institutional investors own 82.06% of the company’s stock.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays lifted their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Wells Fargo & Company decreased their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Truist Financial cut their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Sanford C. Bernstein lifted their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Stock Performance

NYSE:MDT opened at $90.01 on Monday. 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’s fifty day simple moving average is $84.85 and its 200 day simple moving average is $86.43. The stock has a market cap of $115.42 billion, a P/E ratio of 27.53, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts predict that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is currently 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.