Avantax Planning Partners Inc. Purchases 193 Shares of Medtronic plc (NYSE:MDT)

Avantax Planning Partners Inc. grew its stake in Medtronic plc (NYSE:MDTFree Report) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,322 shares of the medical technology company’s stock after acquiring an additional 193 shares during the period. Avantax Planning Partners Inc.’s holdings in Medtronic were worth $495,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MDT. Missouri Trust & Investment Co lifted its stake in Medtronic by 209.0% in the 2nd quarter. Missouri Trust & Investment Co now owns 309 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 209 shares during the last quarter. Hartford Financial Management Inc. lifted its stake in Medtronic by 425.0% in the 3rd quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock valued at $25,000 after purchasing an additional 255 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Medtronic by 48.9% in the 2nd quarter. Venturi Wealth Management LLC now owns 344 shares of the medical technology company’s stock valued at $30,000 after purchasing an additional 113 shares during the last quarter. Fairfield Bush & CO. acquired a new stake in Medtronic in the 2nd quarter valued at about $32,000. Finally, Certified Advisory Corp acquired a new stake in Medtronic in the 1st quarter valued at about $31,000. Institutional investors own 80.75% of the company’s stock.

Insider Activity

In other news, EVP Brett A. Wall sold 4,997 shares of the company’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $82.17, for a total transaction of $410,603.49. Following the transaction, the executive vice president now owns 28,910 shares in the company, valued at $2,375,534.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.30% of the company’s stock.

Medtronic Price Performance

Shares of NYSE MDT traded up $0.75 during midday trading on Friday, reaching $86.54. 6,644,741 shares of the company were exchanged, compared to its average volume of 5,961,570. The stock’s 50-day moving average price is $82.27 and its 200-day moving average price is $80.55. The stock has a market cap of $115.07 billion, a P/E ratio of 28.19, a PEG ratio of 2.96 and a beta of 0.74. 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 1.69, a current ratio of 2.29 and a debt-to-equity ratio of 0.46.

Medtronic (NYSE:MDTGet Free Report) last issued its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $7.98 billion for the quarter, compared to analyst estimates of $7.93 billion. Medtronic had a net margin of 12.83% and a return on equity of 13.73%. Medtronic’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 earnings per share. On average, sell-side analysts anticipate that Medtronic plc will post 5.16 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Wednesday, December 20th were issued a $0.69 dividend. The ex-dividend date was Tuesday, December 19th. This represents a $2.76 annualized dividend and a yield of 3.19%. Medtronic’s payout ratio is 89.90%.

Wall Street Analyst Weigh In

MDT has been the subject of several research reports. Royal Bank of Canada raised their price objective on shares of Medtronic from $82.00 to $92.00 and gave the stock a “sector perform” rating in a research report on Friday, January 12th. Truist Financial raised their price objective on shares of Medtronic from $84.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, December 22nd. Morgan Stanley cut their price objective on shares of Medtronic from $104.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 22nd. Finally, StockNews.com assumed coverage on shares of Medtronic in a research report on Thursday, October 5th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.92.

Read Our Latest Research Report on MDT

Medtronic Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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