Medtronic plc (NYSE:MDT) Stock Position Raised by Wallace Advisory Group LLC

Wallace Advisory Group LLC lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 12.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,157 shares of the medical technology company’s stock after purchasing an additional 933 shares during the quarter. Wallace Advisory Group LLC’s holdings in Medtronic were worth $652,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of MDT. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic during the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic during the 3rd quarter valued at about $27,000. J. Stern & Co. LLP bought a new stake in shares of Medtronic during the 3rd quarter valued at about $30,000. Finally, Kieckhefer Group LLC bought a new position in Medtronic in the 4th quarter worth about $40,000. 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 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 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 trade represents a 19.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Medtronic Trading Up 1.3 %

Shares of NYSE:MDT opened at $81.68 on Tuesday. The stock has a market capitalization of $104.74 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 2.33 and a beta of 0.83. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The company has a 50 day moving average price of $83.83 and a 200 day moving average price of $84.96.

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

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Barclays upped their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Robert W. Baird decreased their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. JPMorgan Chase & Co. decreased their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Finally, Truist Financial decreased their target price 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. One investment 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $95.00.

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.