Nicholson Wealth Management Group LLC Has $1.48 Million Holdings in Medtronic plc (NYSE:MDT)

Nicholson Wealth Management Group LLC lifted its holdings in Medtronic plc (NYSE:MDT) by 185.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,491 shares of the medical technology company’s stock after acquiring an additional 12,019 shares during the quarter. Nicholson Wealth Management Group LLC’s holdings in Medtronic were worth $1,477,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Clear Harbor Asset Management LLC lifted its position in Medtronic by 1.2% during the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock worth $861,000 after acquiring an additional 111 shares during the last quarter. Guardian Wealth Management Inc. lifted its position in Medtronic by 0.9% during the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock worth $1,182,000 after acquiring an additional 115 shares during the last quarter. First City Capital Management Inc. lifted its position in Medtronic by 2.9% during the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after acquiring an additional 116 shares during the last quarter. Hardy Reed LLC increased its holdings in shares of Medtronic by 4.4% during the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock worth $247,000 after purchasing an additional 116 shares during the period. Finally, Lake Street Advisors Group LLC increased its holdings in shares of Medtronic by 2.0% during the third quarter. Lake Street Advisors Group LLC now owns 6,024 shares of the medical technology company’s stock worth $547,000 after purchasing an additional 118 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MDT shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 target price on shares of Medtronic in a report on Wednesday. Truist Financial lowered their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. UBS Group raised their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Wednesday. Finally, Robert W. Baird raised their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus target price of $95.20.

Medtronic Stock Performance

Shares of Medtronic stock opened at $88.14 on Friday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $93.08. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm has a market capitalization of $113.02 billion, a P/E ratio of 26.79, a P/E/G ratio of 2.46 and a beta of 0.84. The company’s 50 day moving average price is $85.93 and its two-hundred day moving average price is $87.03.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. On average, equities analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.18%. Medtronic’s dividend payout ratio is currently 85.11%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.20% of the company’s stock.

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.