Stratos Wealth Advisors LLC Has $524,000 Stock Position in Medtronic plc (NYSE:MDT)

Stratos Wealth Advisors LLC cut its holdings in Medtronic plc (NYSE:MDT) by 47.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,562 shares of the medical technology company’s stock after selling 5,844 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Medtronic were worth $524,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Sargent Investment Group LLC bought a new position in Medtronic during the fourth quarter worth $453,000. Old North State Wealth Management LLC increased its holdings in shares of Medtronic by 4.9% during the fourth quarter. Old North State Wealth Management LLC now owns 33,114 shares of the medical technology company’s stock valued at $2,648,000 after acquiring an additional 1,548 shares in the last quarter. Tranquilli Financial Advisor LLC raised its position in shares of Medtronic by 23.8% during the fourth quarter. Tranquilli Financial Advisor LLC now owns 6,470 shares of the medical technology company’s stock worth $517,000 after purchasing an additional 1,242 shares during the period. Mather Group LLC. lifted its holdings in shares of Medtronic by 7.1% in the 4th quarter. Mather Group LLC. now owns 2,517 shares of the medical technology company’s stock worth $201,000 after purchasing an additional 167 shares in the last quarter. Finally, Stephens Consulting LLC grew its position in Medtronic by 145.7% in the 4th 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. 82.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction 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 transaction, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Medtronic Price Performance

Shares of NYSE MDT opened at $90.01 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $93.08. The stock has a market cap of $115.42 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The stock has a fifty day moving average of $84.78 and a 200-day moving average of $86.31.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. The company 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%. Medtronic’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.25 earnings per share. Equities research analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is currently 85.63%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Barclays raised their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Wells Fargo & Company cut their price target 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. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Sanford C. Bernstein boosted their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, Truist Financial decreased their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. One equities 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 issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic Company 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.