One Capital Management LLC Buys New Holdings in Medtronic plc (NYSE:MDT)

One Capital Management LLC purchased a new position in shares of Medtronic plc (NYSE:MDT) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 3,116 shares of the medical technology company’s stock, valued at approximately $245,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MDT. Dimensional Fund Advisors LP raised its holdings in Medtronic by 7.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock worth $560,494,000 after buying an additional 515,751 shares during the last quarter. Bcwm LLC lifted its position in Medtronic by 3.3% in the 2nd quarter. Bcwm LLC now owns 113,667 shares of the medical technology company’s stock valued at $8,947,000 after acquiring an additional 3,601 shares in the last quarter. Mills Wealth Advisors LLC boosted its stake in Medtronic by 5.7% during the 2nd quarter. Mills Wealth Advisors LLC now owns 2,638 shares of the medical technology company’s stock valued at $208,000 after purchasing an additional 142 shares during the last quarter. Hanson & Doremus Investment Management increased its holdings in Medtronic by 3.4% during the 2nd quarter. Hanson & Doremus Investment Management now owns 47,613 shares of the medical technology company’s stock worth $3,748,000 after purchasing an additional 1,549 shares in the last quarter. Finally, Wilkins Investment Counsel Inc. raised its stake in shares of Medtronic by 2.9% in the second quarter. Wilkins Investment Counsel Inc. now owns 201,543 shares of the medical technology company’s stock worth $15,863,000 after purchasing an additional 5,740 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE:MDT opened at $88.13 on Thursday. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $91.49. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. The business has a fifty day simple moving average of $84.32 and a two-hundred day simple moving average of $82.91. The company has a market capitalization of $113.01 billion, a P/E ratio of 32.05, a P/E/G ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. The business had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. On average, analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Friday, September 27th. Medtronic’s payout ratio is currently 101.82%.

Analyst Ratings Changes

MDT has been the subject of several recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Tuesday, August 20th. Wells Fargo & Company upped their target price on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Barclays raised their price target on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a research report on Wednesday, August 21st. Finally, Oppenheimer lifted their target price on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $92.92.

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.