ARS Wealth Advisors Group LLC Decreases Stock Holdings in Medtronic plc (NYSE:MDT)

ARS Wealth Advisors Group LLC lowered its holdings in Medtronic plc (NYSE:MDT) by 95.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,171 shares of the medical technology company’s stock after selling 82,928 shares during the period. ARS Wealth Advisors Group LLC’s holdings in Medtronic were worth $344,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MDT. Marino Stram & Associates LLC grew its position in Medtronic by 1.8% during the fourth quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock valued at $587,000 after buying an additional 126 shares during the period. Rogco LP increased its stake in shares of Medtronic by 1.9% during the 4th quarter. Rogco LP now owns 6,814 shares of the medical technology company’s stock worth $561,000 after purchasing an additional 129 shares during the last quarter. Modera Wealth Management LLC raised its holdings in shares of Medtronic by 3.9% in the 3rd quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock worth $277,000 after purchasing an additional 133 shares during the period. jvl associates llc lifted its stake in Medtronic by 3.8% in the fourth quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock valued at $316,000 after purchasing an additional 139 shares during the last quarter. Finally, Dfpg Investments LLC grew its holdings in Medtronic by 0.3% during the fourth quarter. Dfpg Investments LLC now owns 53,045 shares of the medical technology company’s stock valued at $4,413,000 after purchasing an additional 142 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of MDT stock traded up $0.77 on Friday, reaching $81.69. The company’s stock had a trading volume of 4,987,236 shares, compared to its average volume of 6,078,836. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $91.00. The stock’s 50 day simple moving average is $83.08 and its 200-day simple moving average is $81.44. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $108.47 billion, a P/E ratio of 26.02, a PEG ratio of 2.64 and a beta of 0.78.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. The firm had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $1.30 EPS. As a group, equities analysts predict that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s dividend payout ratio is currently 87.90%.

Analyst Ratings Changes

MDT has been the topic of a number of recent research reports. Oppenheimer upped their price target on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 21st. Truist Financial increased their target price on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. Mizuho boosted their price target on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Medtronic currently has an average rating of “Hold” and an average price target of $94.91.

Insider Buying and Selling

In other Medtronic news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the sale, the executive vice president now owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Sean Salmon sold 30,695 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total value of $2,613,065.35. Following the completion of the sale, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Medtronic Company 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.