Axxcess Wealth Management LLC Has $2.09 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Axxcess Wealth Management LLC raised its stake in Medtronic plc (NYSE:MDT) by 17.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,342 shares of the medical technology company’s stock after buying an additional 3,690 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Medtronic were worth $2,088,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MDT. Morgan Stanley increased its stake in shares of Medtronic by 9.2% during the 3rd quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock worth $1,863,229,000 after purchasing an additional 1,994,123 shares during the last quarter. Northern Trust Corp increased its stake in shares of Medtronic by 2.1% during the 3rd quarter. Northern Trust Corp now owns 13,622,933 shares of the medical technology company’s stock worth $1,067,493,000 after purchasing an additional 285,819 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Medtronic by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,988,289 shares of the medical technology company’s stock worth $843,979,000 after purchasing an additional 79,660 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Medtronic by 6.7% during the 3rd quarter. American Century Companies Inc. now owns 10,297,135 shares of the medical technology company’s stock worth $806,883,000 after purchasing an additional 649,367 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its stake in shares of Medtronic by 10.8% during the 3rd quarter. First Eagle Investment Management LLC now owns 6,088,880 shares of the medical technology company’s stock worth $477,125,000 after purchasing an additional 592,849 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

MDT traded up $0.77 during midday trading on Friday, hitting $81.69. The company had a trading volume of 4,987,236 shares, compared to its average volume of 6,078,836. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. The company has a market capitalization of $108.47 billion, a PE ratio of 26.02, a P/E/G ratio of 2.66 and a beta of 0.78. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.00. The firm’s 50-day simple moving average is $83.08 and its 200-day simple moving average is $81.44.

Medtronic (NYSE:MDT) last posted 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 firm had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 EPS. Equities research analysts predict that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 3.38%. The ex-dividend date was Thursday, March 21st. Medtronic’s payout ratio is presently 87.90%.

Insider Activity

In other news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sean Salmon sold 30,695 shares of Medtronic 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 in the company, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

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

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.