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

Eads & Heald Wealth Management lessened its holdings in Medtronic plc (NYSE:MDT) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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.

Several other hedge funds and other institutional investors also recently made changes to their positions in MDT. SRS Capital Advisors Inc. boosted its holdings in Medtronic by 19.6% in the second quarter. SRS Capital Advisors Inc. now owns 782 shares of the medical technology company’s stock valued at $69,000 after acquiring an additional 128 shares during the last quarter. Modera Wealth Management LLC lifted its stake in Medtronic by 3.9% during the 3rd quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock valued at $277,000 after acquiring an additional 133 shares in the last quarter. jvl associates llc lifted its stake in Medtronic by 3.8% during the 4th quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock valued at $316,000 after acquiring an additional 139 shares in the last quarter. Washington Trust Advisors Inc. lifted its stake in Medtronic by 7.1% during the 3rd quarter. Washington Trust Advisors Inc. now owns 2,102 shares of the medical technology company’s stock valued at $165,000 after acquiring an additional 140 shares in the last quarter. Finally, Dfpg Investments LLC lifted its stake in Medtronic by 0.3% during the 4th quarter. Dfpg Investments LLC now owns 53,045 shares of the medical technology company’s stock valued at $4,413,000 after acquiring an additional 142 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MDT shares. Mizuho raised their price objective on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Truist Financial lifted their price objective on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. Oppenheimer lifted their target price on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.91.

Medtronic Stock Performance

Shares of NYSE:MDT traded down $1.03 during midday trading on Tuesday, reaching $79.20. 1,518,967 shares of the company’s stock traded hands, compared to its average volume of 6,237,916. The company has a market cap of $105.16 billion, a price-to-earnings ratio of 25.55, a P/E/G ratio of 2.74 and a beta of 0.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. Medtronic plc has a one year low of $68.84 and a one year high of $92.02. The stock has a 50 day moving average of $84.52 and a 200 day moving average of $81.02.

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

Medtronic Dividend Announcement

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

Insider Activity at Medtronic

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

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.