Axxcess Wealth Management LLC Sells 7,431 Shares of Medtronic plc (NYSE:MDT)

Axxcess Wealth Management LLC lessened its holdings in Medtronic plc (NYSE:MDT - Free Report) by 32.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,775 shares of the medical technology company's stock after selling 7,431 shares during the quarter. Axxcess Wealth Management LLC's holdings in Medtronic were worth $1,260,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Guardian Wealth Management Inc. increased its holdings in Medtronic by 0.9% in the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company's stock valued at $1,182,000 after purchasing an additional 115 shares during the last quarter. MONECO Advisors LLC increased its stake in shares of Medtronic by 1.8% in the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock valued at $512,000 after acquiring an additional 115 shares during the last quarter. Hardy Reed LLC increased its stake in shares of Medtronic by 4.4% in the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company's stock valued at $247,000 after acquiring an additional 116 shares during the last quarter. OLD Second National Bank of Aurora raised its position in shares of Medtronic by 0.3% in the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock valued at $2,900,000 after acquiring an additional 121 shares during the period. Finally, McKinley Carter Wealth Services Inc. boosted its stake in Medtronic by 0.7% during the 4th quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company's stock worth $1,572,000 after acquiring an additional 129 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

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Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company's stock.

Medtronic Stock Performance

MDT stock traded down $0.17 during trading hours on Monday, reaching $90.16. The stock had a trading volume of 5,420,324 shares, compared to its average volume of 6,104,008. The stock has a 50-day simple moving average of $90.67 and a 200 day simple moving average of $88.05. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The stock has a market capitalization of $115.64 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Friday, March 28th. Medtronic's payout ratio is presently 85.11%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Truist Financial dropped their price objective on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research note on Wednesday, December 18th. Robert W. Baird lifted their price objective on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Barclays raised their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. Finally, UBS Group increased their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $96.07.

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.