Medtronic plc (NYSE:MDT) Shares Acquired by WCG Wealth Advisors LLC

WCG Wealth Advisors LLC lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 24.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,384 shares of the medical technology company’s stock after buying an additional 5,606 shares during the period. WCG Wealth Advisors LLC’s holdings in Medtronic were worth $2,267,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MDT. Simon Quick Advisors LLC boosted its position in Medtronic by 35.5% during the 4th quarter. Simon Quick Advisors LLC now owns 5,160 shares of the medical technology company’s stock valued at $412,000 after purchasing an additional 1,353 shares during the period. Mutual Advisors LLC boosted its holdings in shares of Medtronic by 12.7% during the fourth quarter. Mutual Advisors LLC now owns 46,168 shares of the medical technology company’s stock valued at $4,024,000 after acquiring an additional 5,190 shares during the period. Red Door Wealth Management LLC grew its position in shares of Medtronic by 13.8% during the fourth quarter. Red Door Wealth Management LLC now owns 4,225 shares of the medical technology company’s stock worth $337,000 after acquiring an additional 512 shares during the last quarter. Secure Asset Management LLC bought a new position in shares of Medtronic during the fourth quarter worth about $285,000. Finally, Apeiron RIA LLC increased its holdings in shares of Medtronic by 41.1% in the 4th quarter. Apeiron RIA LLC now owns 3,724 shares of the medical technology company’s stock worth $297,000 after acquiring an additional 1,084 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on MDT. UBS Group boosted their target price 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. Mizuho reduced their price objective on Medtronic from $100.00 to $98.00 and set an “outperform” rating for the company in a research report on Thursday. Robert W. Baird decreased their price objective on Medtronic from $94.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday. Royal Bank of Canada cut their target price on Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Wall Street Zen cut Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $96.07.

Medtronic Trading Down 0.3%

Shares of Medtronic stock opened at $80.70 on Friday. The business has a fifty day simple moving average of $85.06 and a 200-day simple moving average of $86.44. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The firm has a market cap of $103.51 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.04. The company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Medtronic’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.46 EPS. On average, equities analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.52%. This is a boost from Medtronic’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. 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.