Guardian Wealth Advisors LLC Increases Stock Position in Medtronic plc (NYSE:MDT)

Guardian Wealth Advisors LLC grew its stake in Medtronic plc (NYSE:MDT) by 14.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,220 shares of the medical technology company’s stock after acquiring an additional 521 shares during the period. Guardian Wealth Advisors LLC’s holdings in Medtronic were worth $337,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MDT. Clear Harbor Asset Management LLC increased its position in shares of Medtronic by 1.2% during the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock worth $861,000 after acquiring an additional 111 shares during the last quarter. Guardian Wealth Management Inc. grew its stake in Medtronic by 0.9% during the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock valued at $1,182,000 after purchasing an additional 115 shares in the last quarter. First City Capital Management Inc. increased its holdings in Medtronic by 2.9% during the 3rd quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after purchasing an additional 116 shares during the last quarter. Hardy Reed LLC raised its position in shares of Medtronic by 4.4% in the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock valued at $247,000 after purchasing an additional 116 shares in the last quarter. Finally, Precision Wealth Strategies LLC boosted its stake in shares of Medtronic by 3.3% during the 3rd quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock valued at $337,000 after buying an additional 118 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Sanford C. Bernstein lifted their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Robert W. Baird dropped their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Truist Financial reduced their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Finally, Barclays increased their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $95.00.

Medtronic Stock Down 0.9 %

Medtronic stock opened at $90.85 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 one year low of $75.96 and a one year high of $93.08. The company has a 50-day simple moving average of $84.69 and a 200-day simple moving average of $86.28. The firm has a market capitalization of $116.50 billion, a P/E ratio of 27.78, a P/E/G ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm 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 quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 EPS. As a group, equities analysts expect that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.08%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is currently 85.63%.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

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.