Beacon Financial Group Has $1.04 Million Stock Position in Medtronic plc (NYSE:MDT)

Beacon Financial Group lowered its holdings in shares of Medtronic plc (NYSE:MDT) by 17.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,016 shares of the medical technology company’s stock after selling 2,712 shares during the period. Beacon Financial Group’s holdings in Medtronic were worth $1,040,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Signet Investment Advisory Group Inc. boosted its holdings in Medtronic by 2.8% in the fourth quarter. Signet Investment Advisory Group Inc. now owns 21,977 shares of the medical technology company’s stock worth $1,756,000 after acquiring an additional 600 shares in the last quarter. Leavell Investment Management Inc. boosted its holdings in Medtronic by 4.4% in the fourth quarter. Leavell Investment Management Inc. now owns 5,331 shares of the medical technology company’s stock worth $430,000 after acquiring an additional 226 shares in the last quarter. Portfolio Design Labs LLC boosted its holdings in Medtronic by 67.4% in the fourth quarter. Portfolio Design Labs LLC now owns 4,422 shares of the medical technology company’s stock worth $353,000 after acquiring an additional 1,781 shares in the last quarter. Sovran Advisors LLC bought a new position in Medtronic in the fourth quarter worth approximately $415,000. Finally, Strengthening Families & Communities LLC boosted its holdings in Medtronic by 8.6% in the fourth quarter. Strengthening Families & Communities LLC now owns 23,118 shares of the medical technology company’s stock worth $1,847,000 after acquiring an additional 1,833 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MDT. Truist Financial dropped their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday. Robert W. Baird dropped their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Barclays raised their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. dropped their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and an average price target of $95.00.

Medtronic Stock Performance

Shares of MDT opened at $91.35 on Thursday. The firm has a market cap of $117.14 billion, a PE ratio of 27.94, a PEG ratio of 2.57 and a beta of 0.84. The stock’s fifty day moving average price is $85.04 and its two-hundred day moving average price is $86.65. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. On average, equities research analysts forecast that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.07%. Medtronic’s payout ratio is presently 85.63%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.