Maxwell Wealth Strategies Inc. Sells 2,422 Shares of Medtronic plc (NYSE:MDT)

Maxwell Wealth Strategies Inc. decreased its position in shares of Medtronic plc (NYSE:MDT) by 15.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,177 shares of the medical technology company’s stock after selling 2,422 shares during the period. Maxwell Wealth Strategies Inc.’s holdings in Medtronic were worth $1,053,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. CenterBook Partners LP boosted its holdings in shares of Medtronic by 86.4% in the 4th quarter. CenterBook Partners LP now owns 16,344 shares of the medical technology company’s stock valued at $1,306,000 after purchasing an additional 7,577 shares in the last quarter. Azimuth Capital Investment Management LLC lifted its position in shares of Medtronic by 3.8% during the 4th quarter. Azimuth Capital Investment Management LLC now owns 87,920 shares of the medical technology company’s stock worth $7,023,000 after buying an additional 3,250 shares during the last quarter. Faithward Advisors LLC boosted its stake in Medtronic by 2.7% in the fourth quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company’s stock valued at $403,000 after buying an additional 134 shares in the last quarter. APG Asset Management N.V. bought a new position in Medtronic in the fourth quarter valued at about $54,423,000. Finally, Bernard Wealth Management Corp. acquired a new position in Medtronic during the fourth quarter worth about $160,000. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

Medtronic stock opened at $81.64 on Wednesday. The stock’s 50 day moving average is $90.28 and its 200 day moving average is $87.79. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The firm has a market cap of $104.70 billion, a P/E ratio of 24.81, 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 current ratio of 1.90 and a quick ratio of 1.39.

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

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Robert W. Baird boosted their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Truist Financial lowered their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and increased their target price for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $96.07.

Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is owned by company insiders.

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.