Guardian Wealth Management Inc. Reduces Stock Position in Medtronic plc (NYSE:MDT)

Guardian Wealth Management Inc. decreased its stake in Medtronic plc (NYSE:MDT - Free Report) by 26.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,712 shares of the medical technology company's stock after selling 3,419 shares during the period. Guardian Wealth Management Inc.'s holdings in Medtronic were worth $776,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Morse Asset Management Inc purchased a new stake in shares of Medtronic in the 3rd quarter valued at $225,000. Te Ahumairangi Investment Management Ltd lifted its stake in Medtronic by 4.1% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 52,321 shares of the medical technology company's stock worth $4,684,000 after purchasing an additional 2,050 shares during the last quarter. Chelsea Counsel Co. purchased a new stake in Medtronic during the third quarter valued at about $45,000. Tudor Financial Inc. bought a new position in shares of Medtronic during the third quarter valued at about $586,000. Finally, Anchor Investment Management LLC increased its holdings in shares of Medtronic by 1.2% in the third quarter. Anchor Investment Management LLC now owns 107,518 shares of the medical technology company's stock worth $9,680,000 after buying an additional 1,271 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on MDT shares. UBS Group lifted their price target on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Robert W. Baird increased their price target on shares of Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Truist Financial decreased their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Royal Bank of Canada reiterated an "outperform" rating and set a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Finally, Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and upped their target price for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $96.14.

Medtronic Stock Up 0.8 %

Shares of MDT stock traded up $0.70 during trading hours on Tuesday, hitting $84.74. 1,533,712 shares of the company's stock traded hands, compared to its average volume of 7,593,073. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The stock's fifty day simple moving average is $88.08 and its two-hundred day simple moving average is $87.21. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25. The stock has a market cap of $108.68 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. On average, analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a $0.70 dividend. The ex-dividend date was Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.30%. Medtronic's dividend payout ratio (DPR) is presently 85.11%.

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.