IVC Wealth Advisors LLC Has $405,000 Holdings in Medtronic plc (NYSE:MDT)

IVC Wealth Advisors LLC decreased its stake in Medtronic plc (NYSE:MDT) by 7.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,069 shares of the medical technology company’s stock after selling 387 shares during the period. IVC Wealth Advisors LLC’s holdings in Medtronic were worth $405,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MDT. Fortitude Family Office LLC bought a new position in shares of Medtronic during the 3rd quarter worth about $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic during the third quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in Medtronic during the third quarter valued at about $27,000. J. Stern & Co. LLP acquired a new position in Medtronic in the 3rd quarter valued at approximately $30,000. Finally, Chelsea Counsel Co. bought a new stake in shares of Medtronic in the 3rd quarter worth approximately $45,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MDT. Barclays boosted their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Citigroup lifted their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Finally, Wells Fargo & Company dropped their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Medtronic has a consensus rating of “Hold” and a consensus target price of $95.00.

Insider Buying and Selling

In other 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 value of $792,038.50. Following the transaction, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This represents a 19.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Medtronic Stock Up 1.7 %

Shares of NYSE:MDT opened at $89.30 on Friday. 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 firm has a market cap of $114.51 billion, a P/E ratio of 27.31, a P/E/G ratio of 2.50 and a beta of 0.83. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The company’s 50-day moving average price is $83.64 and its two-hundred day moving average price is $85.39.

Medtronic (NYSE:MDT) last issued 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. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter last year, the business posted $1.25 earnings per share. Medtronic’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts forecast that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.14%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is 85.63%.

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.