Alliance Wealth Advisors LLC UT Purchases 3,684 Shares of Medtronic plc (NYSE:MDT)

Alliance Wealth Advisors LLC UT raised its position in shares of Medtronic plc (NYSE:MDTFree Report) by 9.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,627 shares of the medical technology company’s stock after buying an additional 3,684 shares during the period. Medtronic comprises 1.3% of Alliance Wealth Advisors LLC UT’s portfolio, making the stock its 17th biggest position. Alliance Wealth Advisors LLC UT’s holdings in Medtronic were worth $3,497,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Illinois Municipal Retirement Fund boosted its stake in Medtronic by 307.2% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 119,389 shares of the medical technology company’s stock worth $10,518,000 after acquiring an additional 90,068 shares during the last quarter. Perceptive Advisors LLC bought a new stake in shares of Medtronic during the 2nd quarter worth approximately $41,143,000. Wealth Management Solutions LLC lifted its stake in Medtronic by 22.6% in the second quarter. Wealth Management Solutions LLC now owns 5,162 shares of the medical technology company’s stock valued at $455,000 after acquiring an additional 952 shares during the last quarter. Ropes Wealth Advisors LLC boosted its position in Medtronic by 21.4% during the third quarter. Ropes Wealth Advisors LLC now owns 7,205 shares of the medical technology company’s stock worth $565,000 after purchasing an additional 1,269 shares during the period. Finally, Wallace Advisory Group LLC grew its stake in Medtronic by 19.3% in the 3rd quarter. Wallace Advisory Group LLC now owns 4,889 shares of the medical technology company’s stock valued at $383,000 after buying an additional 792 shares during the last quarter. Institutional investors and hedge funds own 80.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Morgan Stanley cut their price objective on shares of Medtronic from $104.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 22nd. Royal Bank of Canada increased their target price on Medtronic from $82.00 to $92.00 and gave the company a “sector perform” rating in a research report on Friday, January 12th. Finally, Truist Financial upped their price objective on Medtronic from $84.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, December 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $93.92.

Check Out Our Latest Stock Analysis on Medtronic

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 4,997 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $82.17, for a total transaction of $410,603.49. Following the transaction, the executive vice president now directly owns 28,910 shares in the company, valued at approximately $2,375,534.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Medtronic Price Performance

Shares of NYSE MDT opened at $84.91 on Monday. The company has a market capitalization of $112.90 billion, a PE ratio of 27.68, a P/E/G ratio of 2.97 and a beta of 0.78. The company has a quick ratio of 1.69, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $92.02. The firm has a fifty day simple moving average of $84.21 and a 200 day simple moving average of $80.38.

Medtronic (NYSE:MDTGet Free Report) last issued its earnings results on Tuesday, November 21st. The medical technology company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The business had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $7.93 billion. Medtronic had a return on equity of 13.73% and a net margin of 12.83%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 earnings per share. On average, sell-side analysts forecast that Medtronic plc will post 5.16 EPS for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Wednesday, December 20th were given a dividend of $0.69 per share. The ex-dividend date was Tuesday, December 19th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.25%. Medtronic’s dividend payout ratio (DPR) is presently 89.90%.

Medtronic Profile

(Free Report)

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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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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