Atria Wealth Solutions Inc. Has $8.50 Million Position in Medtronic plc (NYSE:MDT)

Atria Wealth Solutions Inc. grew its holdings in Medtronic plc (NYSE:MDT) by 12.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 105,758 shares of the medical technology company’s stock after purchasing an additional 11,447 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Medtronic were worth $8,502,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in MDT. OLD National Bancorp IN grew its position in shares of Medtronic by 12.7% in the third quarter. OLD National Bancorp IN now owns 10,938 shares of the medical technology company’s stock valued at $985,000 after purchasing an additional 1,230 shares during the last quarter. Trilogy Capital Inc. grew its position in shares of Medtronic by 4.9% in the third quarter. Trilogy Capital Inc. now owns 4,082 shares of the medical technology company’s stock valued at $368,000 after purchasing an additional 192 shares during the last quarter. Waterway Wealth Management LLC grew its position in shares of Medtronic by 62.8% in the third quarter. Waterway Wealth Management LLC now owns 4,493 shares of the medical technology company’s stock valued at $404,000 after purchasing an additional 1,734 shares during the last quarter. Precision Wealth Strategies LLC grew its position in shares of Medtronic by 3.3% in the third quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock valued at $337,000 after purchasing an additional 118 shares during the last quarter. Finally, Telos Capital Management Inc. grew its position in Medtronic by 2.0% during the third quarter. Telos Capital Management Inc. now owns 123,358 shares of the medical technology company’s stock worth $11,106,000 after buying an additional 2,402 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Performance

NYSE:MDT opened at $86.05 on Wednesday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The firm has a 50 day moving average of $85.74 and a 200-day moving average of $87.02. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $110.34 billion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. As a group, sell-side analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is currently 85.63%.

Insider Activity

In related news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were 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 $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MDT has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Barclays lifted their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Truist Financial decreased their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Sanford C. Bernstein lifted their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, Robert W. Baird decreased their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus 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.