Wealthcare Advisory Partners LLC Has $696,000 Position in Medtronic plc (NYSE:MDT)

Wealthcare Advisory Partners LLC lessened its stake in shares of Medtronic plc (NYSE:MDT) by 1.6% during the first quarter, Holdings Channel reports. The fund owned 7,751 shares of the medical technology company’s stock after selling 125 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Medtronic were worth $696,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. MONECO Advisors LLC grew its position in Medtronic by 1.8% during the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company’s stock valued at $512,000 after buying an additional 115 shares during the period. Faithward Advisors LLC boosted its holdings in Medtronic by 2.7% in the 4th quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company’s stock valued at $403,000 after purchasing an additional 134 shares during the period. Vestor Capital LLC raised its position in shares of Medtronic by 0.3% during the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company’s stock valued at $4,104,000 after buying an additional 138 shares in the last quarter. L. Roy Papp & Associates LLP raised its position in shares of Medtronic by 2.8% during the 1st quarter. L. Roy Papp & Associates LLP now owns 5,099 shares of the medical technology company’s stock valued at $458,000 after buying an additional 138 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. raised its position in Medtronic by 4.9% in the 4th quarter. Retirement Planning Co of New England Inc. now owns 2,989 shares of the medical technology company’s stock worth $239,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Down 1.5%

NYSE:MDT opened at $87.19 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 quick ratio of 1.39 and a current ratio of 1.90. The firm has a market cap of $111.83 billion, a P/E ratio of 26.50, a P/E/G ratio of 2.22 and a beta of 0.79. The firm has a 50-day simple moving average of $84.21 and a 200-day simple moving average of $86.26.

Medtronic (NYSE:MDT) last issued 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 firm had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. During the same quarter in the previous year, the firm earned $1.46 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 27th. This is a boost from Medtronic’s previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a yield of 3.26%. Medtronic’s dividend payout ratio (DPR) is 78.45%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MDT. UBS Group boosted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Robert W. Baird decreased their target price on shares of Medtronic from $94.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday, May 22nd. Mizuho decreased their price objective on shares of Medtronic from $100.00 to $98.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. Truist Financial reduced their target price on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a report on Friday, April 11th. Finally, Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $97.00.

Medtronic Company 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.