FAS Wealth Partners Inc. Has $981,000 Stock Position in Medtronic plc (NYSE:MDT)

FAS Wealth Partners Inc. reduced its position in shares of Medtronic plc (NYSE:MDT) by 66.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,277 shares of the medical technology company’s stock after selling 24,718 shares during the quarter. FAS Wealth Partners Inc.’s holdings in Medtronic were worth $981,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mainstream Capital Management LLC acquired a new position in Medtronic during the 4th quarter worth approximately $26,000. Rakuten Securities Inc. raised its stake in Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after buying an additional 294 shares during the period. Stephens Consulting LLC raised its stake 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 buying an additional 204 shares during the period. Optiver Holding B.V. acquired a new position in Medtronic during the 4th quarter worth approximately $31,000. Finally, Fiduciary Advisors Inc. acquired a new position in Medtronic during the 4th quarter worth approximately $36,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Down 1.6 %

Shares of Medtronic stock opened at $83.43 on Friday. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The stock’s 50-day simple moving average is $87.77 and its 200 day simple moving average is $87.13. The stock has a market capitalization of $107.01 billion, a P/E ratio of 25.36, a P/E/G ratio of 2.22 and a beta of 0.79. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. As a group, research analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Friday, March 28th. Medtronic’s payout ratio is presently 85.11%.

Wall Street Analyst Weigh In

A number of brokerages have commented on MDT. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. UBS Group boosted their price objective on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. Finally, Truist Financial decreased their price objective on Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $96.14.

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.