New Wave Wealth Advisors LLC Sells 665 Shares of Medtronic plc (NYSE:MDT)

New Wave Wealth Advisors LLC cut its position in Medtronic plc (NYSE:MDT) by 15.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,650 shares of the medical technology company’s stock after selling 665 shares during the period. New Wave Wealth Advisors LLC’s holdings in Medtronic were worth $292,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new position in Medtronic in the third quarter valued at about $27,000. Highline Wealth Partners LLC bought a new position in shares of Medtronic during the third quarter worth about $27,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic during the third quarter worth about $27,000. J. Stern & Co. LLP bought a new position in shares of Medtronic during the third quarter worth about $30,000. Finally, Fiduciary Advisors Inc. bought a new position in shares of Medtronic during the fourth quarter worth about $36,000. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MDT has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Wells Fargo & Company lowered their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Robert W. Baird decreased their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Finally, Sanford C. Bernstein raised their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Price Performance

Medtronic stock opened at $92.01 on Friday. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08. The business has a 50-day simple moving average of $84.29 and a 200 day simple moving average of $85.91. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The stock has a market cap of $117.98 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 2.59 and a beta of 0.83.

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

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s payout ratio is currently 85.63%.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Medtronic Company 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.