Pines Wealth Management LLC Has $521,000 Stock Holdings in Medtronic plc (NYSE:MDT)

Pines Wealth Management LLC boosted its stake in Medtronic plc (NYSE:MDT) by 65.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 6,363 shares of the medical technology company’s stock after acquiring an additional 2,515 shares during the quarter. Pines Wealth Management LLC’s holdings in Medtronic were worth $521,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after acquiring an additional 37,265 shares during the last quarter. Mather Group LLC. grew its holdings in shares of Medtronic by 7.1% during the fourth quarter. Mather Group LLC. now owns 2,517 shares of the medical technology company’s stock worth $201,000 after purchasing an additional 167 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Medtronic by 65.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 140,049 shares of the medical technology company’s stock valued at $11,273,000 after buying an additional 55,552 shares during the period. Trilogy Capital Inc. raised its holdings in Medtronic by 67.1% in the 4th quarter. Trilogy Capital Inc. now owns 6,822 shares of the medical technology company’s stock valued at $545,000 after buying an additional 2,740 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its holdings in Medtronic by 7.8% in the 4th quarter. GHP Investment Advisors Inc. now owns 46,301 shares of the medical technology company’s stock valued at $3,699,000 after buying an additional 3,361 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE:MDT opened at $87.38 on Friday. 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 plc has a twelve month low of $75.96 and a twelve month high of $96.25. The company has a fifty day moving average of $83.92 and a 200-day moving average of $86.17. The firm has a market capitalization of $112.07 billion, a P/E ratio of 26.56, a P/E/G ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.04. The firm 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%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.46 earnings per share. As a group, sell-side analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid 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 yield of 3.25%. The ex-dividend date of this dividend is Friday, June 27th. Medtronic’s dividend payout ratio is 78.45%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MDT shares. Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. UBS Group increased their price objective on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Mizuho cut their target price on Medtronic from $100.00 to $98.00 and set an “outperform” rating on the stock in a report on Thursday, May 22nd. Robert W. Baird reduced their price target on Medtronic from $94.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Finally, Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Nine equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.00.

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.