Wealth Enhancement Advisory Services LLC Purchases 4,371 Shares of Medtronic plc (NYSE:MDT)

Wealth Enhancement Advisory Services LLC lifted its holdings in Medtronic plc (NYSE:MDT) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 365,780 shares of the medical technology company’s stock after purchasing an additional 4,371 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Medtronic were worth $29,219,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Fortitude Family Office LLC acquired a new stake in Medtronic in the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic in the third quarter worth $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic in the third quarter worth $27,000. J. Stern & Co. LLP bought a new position in Medtronic during the third quarter worth $30,000. Finally, Chelsea Counsel Co. acquired a new position in Medtronic during the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Medtronic Price Performance

NYSE:MDT opened at $80.62 on Friday. The firm has a market cap of $103.38 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. The company’s 50-day moving average price is $83.99 and its two-hundred day moving average price is $84.91. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68.

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

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.47%. Medtronic’s dividend payout ratio (DPR) is 85.63%.

Wall Street Analysts Forecast Growth

MDT has been the topic of several research analyst reports. Truist Financial decreased 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. Citigroup lifted their target price on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Wells Fargo & Company cut their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Sanford C. Bernstein lifted their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. cut their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.00.

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.