Medtronic plc (NYSE:MDT) is 44 Wealth Management LLC's 6th Largest Position

44 Wealth Management LLC trimmed its stake in Medtronic plc (NYSE:MDT - Free Report) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,152 shares of the medical technology company's stock after selling 2,886 shares during the period. Medtronic comprises approximately 1.4% of 44 Wealth Management LLC's investment portfolio, making the stock its 6th biggest position. 44 Wealth Management LLC's holdings in Medtronic were worth $3,766,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in Medtronic during the 3rd quarter worth about $27,000. Highline Wealth Partners LLC acquired a new stake in Medtronic during the 3rd quarter worth about $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic during the 3rd quarter worth about $27,000. Stephens Consulting LLC grew its holdings in Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after acquiring an additional 204 shares during the period. Finally, J. Stern & Co. LLP acquired a new stake in Medtronic during the 3rd quarter worth about $30,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of Medtronic stock traded up $2.01 during mid-day trading on Friday, hitting $89.95. 11,762,886 shares of the stock were exchanged, compared to its average volume of 6,705,125. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08. The company has a 50-day simple moving average of $86.08 and a 200 day simple moving average of $87.10. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The company has a market capitalization of $115.34 billion, a P/E ratio of 27.34, a P/E/G ratio of 2.22 and a beta of 0.84.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. Sell-side analysts anticipate that Medtronic plc will post 5.46 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 10th. Shareholders of record on Friday, December 27th were given 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 dividend yield of 3.11%. Medtronic's dividend payout ratio is currently 85.11%.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of recent analyst reports. Truist Financial decreased their price target on Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, December 18th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Wednesday. Barclays raised their target price on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. Royal Bank of Canada restated an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a research note on Wednesday. Finally, Sanford C. Bernstein raised their target price on Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $95.00.

Insiders Place Their Bets

In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company's stock.

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.