Fi3 FINANCIAL ADVISORS LLC Has $580,000 Stock Position in Medtronic plc (NYSE:MDT)

Fi3 FINANCIAL ADVISORS LLC reduced its stake in shares of Medtronic plc (NYSE:MDT) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,191 shares of the medical technology company’s stock after selling 119 shares during the period. Fi3 FINANCIAL ADVISORS LLC’s holdings in Medtronic were worth $580,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new position in shares of Medtronic in the third quarter valued at approximately $27,000. Mainstream Capital Management LLC bought a new position in shares of Medtronic in the fourth quarter valued at approximately $26,000. J. Stern & Co. LLP bought a new position in shares of Medtronic in the third quarter valued at approximately $30,000. Rakuten Securities Inc. grew its holdings in shares of Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 294 shares in the last quarter. Finally, Stephens Consulting LLC grew its holdings in shares of Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 204 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Down 0.9 %

Shares of MDT stock opened at $90.37 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The company has a market capitalization of $115.90 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The business’s fifty day moving average is $90.67 and its 200 day moving average is $88.08.

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

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.10%. Medtronic’s dividend payout ratio (DPR) is currently 85.11%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group increased their price objective on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Barclays increased their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. Truist Financial reduced their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $96.07.

Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.