Beacon Harbor Wealth Advisors Inc. Lowers Holdings in Medtronic plc (NYSE:MDT)

Beacon Harbor Wealth Advisors Inc. reduced its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 56.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,001 shares of the medical technology company's stock after selling 41,046 shares during the period. Beacon Harbor Wealth Advisors Inc.'s holdings in Medtronic were worth $2,556,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Darwin Wealth Management LLC purchased a new position in shares of Medtronic during the third quarter worth $27,000. Mainstream Capital Management LLC purchased a new position in shares of Medtronic during the fourth quarter worth $26,000. J. Stern & Co. LLP purchased a new position in shares of Medtronic during the third quarter worth $30,000. Stephens Consulting LLC boosted its position in shares of Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after buying an additional 204 shares during the period. Finally, Fiduciary Advisors Inc. purchased a new position in shares of Medtronic during the fourth quarter worth $36,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Royal Bank of Canada restated an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. 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 note on Friday, November 15th. Barclays increased their price objective on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. Sanford C. Bernstein increased their price objective on Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $96.07.

Insider Activity

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

Medtronic Stock Up 1.2 %

Shares of Medtronic stock opened at $94.15 on Thursday. The stock has a market cap of $120.75 billion, a price-to-earnings ratio of 28.62, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. The company has a fifty day moving average price of $87.82 and a 200 day moving average price of $87.68. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $95.57.

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 analysts' consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Equities research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

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.

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