Avior Wealth Management LLC Sells 10,868 Shares of Medtronic PLC (NYSE:MDT)

Avior Wealth Management LLC trimmed its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 86.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,739 shares of the medical technology company's stock after selling 10,868 shares during the period. Avior Wealth Management LLC's holdings in Medtronic were worth $156,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MDT. TCTC Holdings LLC lifted its stake in shares of Medtronic by 3.4% in the 4th quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company's stock valued at $3,173,000 after purchasing an additional 1,301 shares during the period. Brighton Jones LLC increased its holdings in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after purchasing an additional 37,265 shares during the last quarter. Oxford Asset Management LLP lifted its stake in Medtronic by 70.1% in the fourth quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock valued at $594,000 after buying an additional 3,068 shares during the period. New Vernon Investment Management LLC lifted its stake in Medtronic by 304.9% in the fourth quarter. New Vernon Investment Management LLC now owns 29,613 shares of the medical technology company's stock valued at $2,425,000 after buying an additional 22,300 shares during the period. Finally, Advisor OS LLC boosted its holdings in Medtronic by 152.0% during the fourth quarter. Advisor OS LLC now owns 11,800 shares of the medical technology company's stock worth $943,000 after buying an additional 7,118 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MDT has been the subject of a number of recent analyst reports. Royal Bank Of Canada lowered their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Friday, June 6th. Mizuho decreased their price target on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Finally, Truist Financial lowered their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $97.87.

Medtronic Stock Down 0.0%

Shares of MDT traded down $0.03 during midday trading on Wednesday, hitting $86.05. The stock had a trading volume of 8,461,675 shares, compared to its average volume of 6,942,421. The firm has a market cap of $110.36 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 2.32 and a beta of 0.79. The company has a 50 day simple moving average of $84.67 and a two-hundred day simple moving average of $86.29. Medtronic PLC has a twelve month low of $75.96 and a twelve month high of $96.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.04. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The business had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. During the same quarter last year, the firm earned $1.46 EPS. Medtronic's revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Friday, June 27th. This is a positive change from Medtronic's previous quarterly dividend of $0.70. Medtronic's payout ratio is currently 77.35%.

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.