Medtronic plc (NYSE:MDT) Shares Bought by Arkadios Wealth Advisors

Arkadios Wealth Advisors grew its stake in shares of Medtronic plc (NYSE:MDT – Get Rating) by 16.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,932 shares of the medical technology company’s stock after acquiring an additional 3,360 shares during the quarter. Arkadios Wealth Advisors’ holdings in Medtronic were worth $1,860,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. First Citizens Financial Corp increased its stake in shares of Medtronic by 10.7% during the 4th quarter. First Citizens Financial Corp now owns 4,134 shares of the medical technology company’s stock valued at $321,000 after acquiring an additional 399 shares during the last quarter. Foundations Investment Advisors LLC increased its stake in shares of Medtronic by 42.4% during the 4th quarter. Foundations Investment Advisors LLC now owns 13,461 shares of the medical technology company’s stock valued at $1,046,000 after acquiring an additional 4,005 shares during the last quarter. EWG Elevate Inc. acquired a new position in shares of Medtronic during the 4th quarter valued at about $52,000. Glassy Mountain Advisors Inc. acquired a new position in shares of Medtronic during the 4th quarter valued at about $1,727,000. Finally, Phocas Financial Corp. acquired a new position in shares of Medtronic during the 4th quarter valued at about $62,000. Institutional investors and hedge funds own 80.37% of the company’s stock.

Medtronic Stock Performance

Medtronic stock opened at $78.29 on Friday. The stock has a market cap of $104.16 billion, a P/E ratio of 25.75, a price-to-earnings-growth ratio of 2.40 and a beta of 0.71. The company has a current ratio of 1.76, a quick ratio of 1.39 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average of $82.06 and a 200-day moving average of $82.22. Medtronic plc has a 52 week low of $75.76 and a 52 week high of $114.31.

Medtronic (NYSE:MDT – Get Rating) last released its earnings results on Tuesday, February 21st. The medical technology company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.27 by $0.03. The company had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.53 billion. Medtronic had a return on equity of 13.37% and a net margin of 13.20%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business posted $1.37 EPS. On average, analysts expect that Medtronic plc will post 5.28 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 24th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Thursday, March 23rd. Medtronic’s dividend payout ratio is currently 89.47%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MDT. Oppenheimer cut Medtronic from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $106.00 to $85.00 in a report on Wednesday, November 23rd. StockNews.com began coverage on Medtronic in a report on Thursday. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft boosted their target price on Medtronic from $80.00 to $87.00 in a report on Wednesday, February 22nd. Stifel Nicolaus decreased their target price on Medtronic from $105.00 to $90.00 in a report on Wednesday, November 23rd. Finally, Truist Financial decreased their target price on Medtronic from $89.00 to $84.00 in a report on Wednesday, November 23rd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $90.72.

Insider Activity at Medtronic

In other news, major shareholder Plc Medtronic purchased 6,835 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The shares were acquired at an average cost of $9.28 per share, with a total value of $63,428.80. Following the transaction, the insider now owns 4,999,423 shares in the company, valued at approximately $46,394,645.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Medtronic Profile

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Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiovascular Porrtfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.