Alliance Wealth Advisors LLC UT Grows Position in Medtronic plc (NYSE:MDT)

Alliance Wealth Advisors LLC UT increased its position in shares of Medtronic plc (NYSE:MDT) by 2.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 45,695 shares of the medical technology company’s stock after buying an additional 1,068 shares during the quarter. Medtronic comprises about 1.3% of Alliance Wealth Advisors LLC UT’s portfolio, making the stock its 18th largest holding. Alliance Wealth Advisors LLC UT’s holdings in Medtronic were worth $3,764,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. BKM Wealth Management LLC acquired a new position in Medtronic in the fourth quarter valued at approximately $941,000. International Assets Investment Management LLC boosted its holdings in Medtronic by 8,340.3% in the fourth quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock valued at $85,558,000 after purchasing an additional 1,026,274 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Medtronic by 69.3% in the third quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock valued at $3,172,000 after purchasing an additional 16,574 shares in the last quarter. Ropes Wealth Advisors LLC boosted its holdings in Medtronic by 21.4% in the third quarter. Ropes Wealth Advisors LLC now owns 7,205 shares of the medical technology company’s stock valued at $565,000 after purchasing an additional 1,269 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in Medtronic by 109,325.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 91,917 shares of the medical technology company’s stock valued at $7,572,000 after purchasing an additional 91,833 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Price Performance

NYSE:MDT traded up $0.49 during trading hours on Friday, hitting $79.74. The company’s stock had a trading volume of 5,024,880 shares, compared to its average volume of 5,781,218. The business’s 50-day moving average is $83.53 and its two-hundred day moving average is $81.16. The company has a market capitalization of $105.88 billion, a PE ratio of 25.39, a PEG ratio of 2.71 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 52-week low of $68.84 and a 52-week high of $92.02.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share 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 analyst estimates of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 EPS. As a group, research analysts anticipate that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Insider Buying and Selling

In related news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Sean Salmon sold 30,695 shares of the business’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 transaction, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction that occurred 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 sale, 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MDT has been the subject of several research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a report on Wednesday, February 21st. Truist Financial increased their price objective on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Mizuho increased their price target on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Oppenheimer increased their price target on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $94.91.

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.