Worth Financial Advisory Group LLC Buys Shares of 3,200 Medtronic plc (NYSE:MDT)

Worth Financial Advisory Group LLC bought a new position in shares of Medtronic plc (NYSE:MDT) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 3,200 shares of the medical technology company’s stock, valued at approximately $273,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Guardian Wealth Management Inc. boosted its holdings in Medtronic by 0.9% during the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock worth $1,182,000 after buying an additional 115 shares in the last quarter. MONECO Advisors LLC lifted its position in shares of Medtronic by 1.8% during the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company’s stock valued at $512,000 after acquiring an additional 115 shares during the period. Hardy Reed LLC boosted its stake in shares of Medtronic by 4.4% during the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock worth $247,000 after acquiring an additional 116 shares in the last quarter. OLD Second National Bank of Aurora grew its holdings in shares of Medtronic by 0.3% in the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company’s stock worth $2,900,000 after acquiring an additional 121 shares during the period. Finally, McKinley Carter Wealth Services Inc. increased its stake in Medtronic by 0.7% in the 4th quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company’s stock valued at $1,572,000 after purchasing an additional 129 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 9,850 shares of the 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 completion of the sale, the executive vice president now owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of research analyst reports. Truist Financial decreased their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. UBS Group increased their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Robert W. Baird lifted their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $96.07.

Medtronic Stock Down 0.5 %

Shares of NYSE:MDT opened at $88.17 on Thursday. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The firm has a market cap of $113.08 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 2.22 and a beta of 0.80. The stock’s 50-day moving average price is $90.96 and its two-hundred day moving average price is $88.04. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. On average, research analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.18%. Medtronic’s payout ratio is 85.11%.

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.