Axxcess Wealth Management LLC Increases Stock Holdings in Medtronic plc (NYSE:MDT)

Axxcess Wealth Management LLC lifted its stake in Medtronic plc (NYSE:MDT) by 17.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 25,342 shares of the medical technology company’s stock after buying an additional 3,690 shares during the period. Axxcess Wealth Management LLC’s holdings in Medtronic were worth $2,088,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. J.W. Cole Advisors Inc. boosted its holdings in Medtronic by 5.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 8,883 shares of the medical technology company’s stock valued at $696,000 after acquiring an additional 458 shares during the period. Brown Advisory Inc. boosted its holdings in Medtronic by 10.9% during the 3rd quarter. Brown Advisory Inc. now owns 287,994 shares of the medical technology company’s stock valued at $22,567,000 after acquiring an additional 28,235 shares during the period. Cutler Investment Counsel LLC boosted its holdings in Medtronic by 70.6% during the 3rd quarter. Cutler Investment Counsel LLC now owns 129,643 shares of the medical technology company’s stock valued at $10,246,000 after acquiring an additional 53,667 shares during the period. Concord Wealth Partners boosted its holdings in Medtronic by 31.0% during the 3rd quarter. Concord Wealth Partners now owns 7,403 shares of the medical technology company’s stock valued at $580,000 after acquiring an additional 1,752 shares during the period. Finally, JB Capital LLC boosted its holdings in Medtronic by 22.1% during the 3rd quarter. JB Capital LLC now owns 79,876 shares of the medical technology company’s stock valued at $6,259,000 after acquiring an additional 14,464 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the sale, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Medtronic news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the sale, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were 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 owns 48,289 shares in the company, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Medtronic Stock Up 1.0 %

Shares of MDT traded up $0.77 during trading hours 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 market capitalization of $108.47 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 2.66 and a beta of 0.78. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Medtronic plc has a one year low of $68.84 and a one year high of $91.00. The company’s fifty day moving average price is $83.08 and its two-hundred day moving average price is $81.44.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.26 by $0.04. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The firm had revenue of $8.09 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same period in the previous year, the company posted $1.30 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts forecast that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Royal Bank of Canada restated a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a report 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 research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.