180 Wealth Advisors LLC Grows Position in Medtronic plc (NYSE:MDT)

180 Wealth Advisors LLC lifted its position in shares of Medtronic plc (NYSE:MDT) by 8.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 35,826 shares of the medical technology company’s stock after purchasing an additional 2,641 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Medtronic were worth $2,862,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Fortitude Family Office LLC acquired a new stake in shares of Medtronic in the third quarter worth $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic in the third quarter valued at about $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Medtronic in the third quarter worth about $27,000. J. Stern & Co. LLP acquired a new stake in shares of Medtronic in the third quarter valued at about $30,000. Finally, Chelsea Counsel Co. acquired a new position in Medtronic during the 3rd quarter worth approximately $45,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Medtronic Stock Up 1.3 %

Shares of NYSE:MDT opened at $81.68 on Tuesday. The company’s fifty day moving average is $83.83 and its two-hundred day moving average is $84.96. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68. The stock has a market capitalization of $104.74 billion, a price-to-earnings ratio of 24.98, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. Medtronic’s quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts anticipate that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.43%. Medtronic’s payout ratio is currently 85.63%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MDT. Evercore ISI increased their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. JPMorgan Chase & Co. decreased their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Robert W. Baird dropped their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Finally, Citigroup increased their price target on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $95.00.

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.