Medtronic plc (NYSE:MDT) Shares Acquired by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC raised its position in shares of Medtronic plc (NYSE:MDTFree Report) by 21.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,378 shares of the medical technology company’s stock after acquiring an additional 1,476 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Medtronic were worth $730,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Corundum Group Inc. acquired a new position in Medtronic during the first quarter valued at approximately $491,000. DGS Capital Management LLC lifted its holdings in shares of Medtronic by 106.8% during the 1st quarter. DGS Capital Management LLC now owns 5,953 shares of the medical technology company’s stock valued at $519,000 after acquiring an additional 3,075 shares in the last quarter. Matrix Asset Advisors Inc. NY boosted its position in Medtronic by 7.9% during the 1st quarter. Matrix Asset Advisors Inc. NY now owns 182,221 shares of the medical technology company’s stock worth $15,881,000 after purchasing an additional 13,312 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Medtronic in the 1st quarter valued at $152,000. Finally, Sunbelt Securities Inc. raised its position in Medtronic by 124.9% in the first quarter. Sunbelt Securities Inc. now owns 3,128 shares of the medical technology company’s stock valued at $273,000 after purchasing an additional 1,737 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Price Performance

Shares of NYSE MDT opened at $78.71 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $100.93 billion, a price-to-earnings ratio of 28.62, a price-to-earnings-growth ratio of 2.31 and a beta of 0.83. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.00. The business has a 50 day simple moving average of $81.85 and a 200-day simple moving average of $83.52.

Medtronic (NYSE:MDTGet Free Report) last released its earnings results on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.01. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The firm had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the firm earned $1.57 earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, equities research analysts expect that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $0.70 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.69. This represents a $2.80 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Friday, June 28th. Medtronic’s payout ratio is presently 101.82%.

Insider Activity

In related news, CEO Geoffrey Martha sold 19,113 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $83.77, for a total value of $1,601,096.01. Following the sale, the chief executive officer now owns 143,348 shares of the company’s stock, valued at approximately $12,008,261.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Medtronic news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Geoffrey Martha sold 19,113 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $83.77, for a total value of $1,601,096.01. Following the transaction, the chief executive officer now owns 143,348 shares of the company’s stock, valued at $12,008,261.96. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Truist Financial lowered their target price on Medtronic from $90.00 to $88.00 and set a “hold” rating for the company in a research note on Friday, May 24th. Wells Fargo & Company lifted their price objective on shares of Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. The Goldman Sachs Group initiated coverage on shares of Medtronic in a research note on Thursday, May 30th. They issued a “sell” rating and a $83.00 target price for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research note on Wednesday, June 5th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $93.00.

View Our Latest Stock Report on MDT

About Medtronic

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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