Medtronic plc (NYSE:MDT) Shares Sold by A. D. Beadell Investment Counsel Inc.

A. D. Beadell Investment Counsel Inc. trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,995 shares of the medical technology company’s stock after selling 490 shares during the period. Medtronic accounts for about 1.9% of A. D. Beadell Investment Counsel Inc.’s holdings, making the stock its 19th biggest holding. A. D. Beadell Investment Counsel Inc.’s holdings in Medtronic were worth $2,396,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in Medtronic during the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic in the 3rd quarter worth about $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic in the 3rd quarter valued at about $27,000. J. Stern & Co. LLP bought a new position in shares of Medtronic during the third quarter worth about $30,000. Finally, Chelsea Counsel Co. bought a new position in shares of Medtronic during the third quarter worth about $45,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE:MDT traded down $1.52 during mid-day trading on Friday, reaching $81.16. 2,149,798 shares of the stock were exchanged, compared to its average volume of 6,563,060. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average price of $84.17 and a 200 day moving average price of $84.89. The firm has a market capitalization of $104.07 billion, a PE ratio of 24.82, a PEG ratio of 2.33 and a beta of 0.83.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 EPS. Research analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wells Fargo & Company reduced their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Sanford C. Bernstein boosted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Barclays raised their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Finally, Truist Financial dropped their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Medtronic currently has an average rating of “Hold” and an average target price of $95.00.

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.