Fiduciary Advisors Inc. Invests $36,000 in Medtronic plc (NYSE:MDT)

Fiduciary Advisors Inc. purchased a new stake in Medtronic plc (NYSE:MDT) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 453 shares of the medical technology company’s stock, valued at approximately $36,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in shares of Medtronic during the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic in the 3rd quarter valued at approximately $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic during the third quarter worth $27,000. J. Stern & Co. LLP purchased a new stake in Medtronic during the third quarter worth $30,000. Finally, Kieckhefer Group LLC acquired a new stake in Medtronic in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the topic of several recent research reports. Robert W. Baird decreased their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Wells Fargo & Company lowered their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Sanford C. Bernstein lifted their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Truist Financial dropped their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. reduced their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Medtronic presently has an average rating of “Hold” and an average price target of $95.00.

Medtronic Price Performance

MDT opened at $92.01 on Friday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The company’s 50 day simple moving average is $84.14 and its 200 day simple moving average is $85.87. The stock has a market capitalization of $117.98 billion, a PE ratio of 28.14, a P/E/G ratio of 2.59 and a beta of 0.83. 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 (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. Medtronic’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the business earned $1.25 EPS. As a group, sell-side analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders 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 annualized dividend and a yield of 3.04%. Medtronic’s dividend payout ratio is presently 85.63%.

Insiders Place Their Bets

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 transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

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.