Eads & Heald Wealth Management Sells 150 Shares of Medtronic plc (NYSE:MDT)

Eads & Heald Wealth Management trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,486 shares of the medical technology company’s stock after selling 150 shares during the period. Eads & Heald Wealth Management’s holdings in Medtronic were worth $534,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. SRS Capital Advisors Inc. grew its holdings in Medtronic by 19.6% during the second quarter. SRS Capital Advisors Inc. now owns 782 shares of the medical technology company’s stock valued at $69,000 after purchasing an additional 128 shares during the period. Modera Wealth Management LLC boosted its holdings in shares of Medtronic by 3.9% in the third quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock valued at $277,000 after buying an additional 133 shares during the period. jvl associates llc boosted its holdings in shares of Medtronic by 3.8% in the fourth quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock valued at $316,000 after buying an additional 139 shares during the period. Washington Trust Advisors Inc. boosted its holdings in shares of Medtronic by 7.1% in the third quarter. Washington Trust Advisors Inc. now owns 2,102 shares of the medical technology company’s stock valued at $165,000 after buying an additional 140 shares during the period. Finally, Dfpg Investments LLC boosted its holdings in Medtronic by 0.3% during the fourth quarter. Dfpg Investments LLC now owns 53,045 shares of the medical technology company’s stock worth $4,413,000 after purchasing an additional 142 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT traded down $1.03 during trading hours on Tuesday, hitting $79.20. The company had a trading volume of 1,518,967 shares, compared to its average volume of 6,237,916. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $84.52 and a 200-day moving average of $81.02. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $92.02. The firm has a market cap of $105.16 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 2.74 and a beta of 0.76.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.26 by $0.04. The business had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. Medtronic’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.30 earnings per share. Equities analysts anticipate that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were paid a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a yield of 3.48%. Medtronic’s payout ratio is 87.90%.

Insiders Place Their Bets

In other news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the completion of the transaction, the executive vice president now owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MDT. Mizuho increased their target price on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Truist Financial upped their price target on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. Finally, Oppenheimer upped their price target on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $94.91.

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.