Medtronic plc (NYSE:MDT) Shares Purchased by Avestar Capital LLC

Avestar Capital LLC increased its position in shares of Medtronic plc (NYSE:MDT) by 15.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,928 shares of the medical technology company’s stock after purchasing an additional 815 shares during the period. Avestar Capital LLC’s holdings in Medtronic were worth $474,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC acquired a new position in Medtronic in the third quarter valued at $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic in the third quarter valued at $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Medtronic in the third quarter valued at about $27,000. J. Stern & Co. LLP purchased a new stake in shares of Medtronic in the third quarter valued at about $30,000. Finally, Stephens Consulting LLC raised 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 buying an additional 204 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity

In related news, EVP Brett A. Wall sold 12,437 shares of the firm’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 transaction of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the subject of a number of research reports. Truist Financial reduced their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Wednesday. Robert W. Baird cut their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Sanford C. Bernstein increased their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, Wells Fargo & Company cut their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. One 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 company. According to MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus target price of $95.00.

Medtronic Trading Up 0.9 %

Shares of Medtronic stock opened at $93.02 on Friday. The company has a 50-day moving average of $85.33 and a two-hundred day moving average of $86.72. The stock has a market cap of $119.28 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last released its quarterly earnings results 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 business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $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 declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders 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 annualized dividend and a dividend yield of 3.01%. Medtronic’s dividend payout ratio is presently 85.63%.

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.