Core Wealth Advisors LLC Makes New Investment in Medtronic PLC $MDT

Core Wealth Advisors LLC acquired a new stake in shares of Medtronic PLC (NYSE:MDT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 8,437 shares of the medical technology company’s stock, valued at approximately $810,000. Medtronic accounts for approximately 0.5% of Core Wealth Advisors LLC’s portfolio, making the stock its 28th biggest position.

Other hedge funds also recently made changes to their positions in the company. Lodestone Wealth Management LLC bought a new position in shares of Medtronic during the 4th quarter valued at approximately $27,000. Anfield Capital Management LLC grew its stake in shares of Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 230 shares during the period. Valley Wealth Managers Inc. bought a new position in shares of Medtronic during the 3rd quarter valued at approximately $29,000. Board of the Pension Protection Fund bought a new position in shares of Medtronic during the 4th quarter valued at approximately $29,000. Finally, GoalVest Advisory LLC bought a new position in shares of Medtronic during the 4th quarter valued at approximately $29,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Down 2.4%

NYSE MDT opened at $73.73 on Friday. The stock’s 50 day moving average is $82.36 and its 200 day moving average is $92.65. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 12 month low of $73.67 and a 12 month high of $106.33. The stock has a market cap of $94.66 billion, a PE ratio of 20.54, a P/E/G ratio of 1.76 and a beta of 0.62.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were issued a $0.71 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.9%. Medtronic’s payout ratio is currently 79.11%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. UBS Group cut their price objective on Medtronic from $104.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. Robert W. Baird boosted their price objective on Medtronic from $92.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Stifel Nicolaus cut their price objective on Medtronic from $105.00 to $95.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Piper Sandler cut their price objective on Medtronic from $105.00 to $91.00 and set a “neutral” rating for the company in a research note on Wednesday, April 1st. Finally, Argus cut their price objective on Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $106.45.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).