Wealthcare Capital Partners LLC Invests $205,000 in Medtronic plc (NYSE:MDT)

Wealthcare Capital Partners LLC purchased a new position in shares of Medtronic plc (NYSE:MDT) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,287 shares of the medical technology company’s stock, valued at approximately $205,000.

Other large investors also recently modified their holdings of the company. Miracle Mile Advisors LLC grew its stake in Medtronic by 3.0% in the 1st quarter. Miracle Mile Advisors LLC now owns 27,743 shares of the medical technology company’s stock valued at $2,493,000 after buying an additional 812 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in Medtronic by 13.3% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 27,486 shares of the medical technology company’s stock valued at $2,470,000 after buying an additional 3,230 shares in the last quarter. Wedmont Private Capital grew its stake in Medtronic by 26.1% in the 1st quarter. Wedmont Private Capital now owns 7,318 shares of the medical technology company’s stock valued at $607,000 after buying an additional 1,516 shares in the last quarter. UMB Bank n.a. grew its stake in Medtronic by 479.0% in the 1st quarter. UMB Bank n.a. now owns 74,076 shares of the medical technology company’s stock valued at $6,656,000 after buying an additional 61,283 shares in the last quarter. Finally, Sivia Capital Partners LLC grew its stake in Medtronic by 13.4% in the 1st quarter. Sivia Capital Partners LLC now owns 3,975 shares of the medical technology company’s stock valued at $357,000 after buying an additional 471 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of NYSE:MDT opened at $87.38 on Friday. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm has a market capitalization of $112.07 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 2.22 and a beta of 0.79. The company’s fifty day moving average price is $83.92 and its 200-day moving average price is $86.18.

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

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.71 per share. This is an increase from Medtronic’s previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Friday, June 27th. Medtronic’s payout ratio is currently 78.45%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Truist Financial reduced their price objective on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, April 11th. UBS Group lifted their price objective 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 reduced their price objective on shares of Medtronic from $94.00 to $92.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Finally, Royal Bank of Canada reduced their price objective on shares of Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a research note on Thursday, May 22nd. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.00.

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.