SeaCrest Wealth Management LLC Has $705,000 Stock Position in Medtronic plc (NYSE:MDT)

SeaCrest Wealth Management LLC lowered its holdings in shares of Medtronic plc (NYSE:MDT) by 24.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,331 shares of the medical technology company’s stock after selling 2,754 shares during the period. SeaCrest Wealth Management LLC’s holdings in Medtronic were worth $705,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Summit Investment Advisory Services LLC grew its stake in Medtronic by 46.2% during the fourth quarter. Summit Investment Advisory Services LLC now owns 4,572 shares of the medical technology company’s stock worth $377,000 after purchasing an additional 1,444 shares during the period. Austin Private Wealth LLC acquired a new stake in Medtronic in the fourth quarter valued at approximately $211,000. AMI Investment Management Inc. grew its stake in Medtronic by 13.4% in the fourth quarter. AMI Investment Management Inc. now owns 33,448 shares of the medical technology company’s stock valued at $2,760,000 after acquiring an additional 3,951 shares during the period. FLC Capital Advisors acquired a new stake in Medtronic in the fourth quarter valued at approximately $319,000. Finally, IFG Advisory LLC grew its stake in Medtronic by 18.7% in the fourth quarter. IFG Advisory LLC now owns 30,267 shares of the medical technology company’s stock valued at $2,493,000 after acquiring an additional 4,771 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total value of $2,613,065.35. Following the sale, the executive vice president now directly owns 48,289 shares in the company, valued at $4,110,842.57. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.30% of the company’s stock.

Medtronic Stock Performance

Medtronic stock traded up $0.23 during mid-day trading on Friday, reaching $87.15. 7,579,459 shares of the company’s stock were exchanged, compared to its average volume of 6,365,203. The business’s fifty day simple moving average is $85.23 and its 200 day simple moving average is $80.73. The firm has a market capitalization of $115.72 billion, a PE ratio of 27.75, a P/E/G ratio of 2.97 and a beta of 0.76. Medtronic plc has a one year low of $68.84 and a one year high of $92.02. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.04. The firm 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 business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 earnings per share. On average, sell-side analysts expect that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 22nd will be paid a $0.69 dividend. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.17%. Medtronic’s payout ratio is presently 87.90%.

Wall Street Analyst Weigh In

A number of brokerages have commented on MDT. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a research note on Wednesday, February 21st. Mizuho lifted their target price on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Oppenheimer lifted their target price on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 21st. Finally, Truist Financial lifted their target price on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and a consensus price target of $94.91.

Medtronic 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.