WCG Wealth Advisors LLC Has $1.84 Million Stock Holdings in Medtronic plc (NYSE:MDT)

WCG Wealth Advisors LLC grew its position in Medtronic plc (NYSE:MDT) by 13.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,374 shares of the medical technology company’s stock after buying an additional 2,706 shares during the period. WCG Wealth Advisors LLC’s holdings in Medtronic were worth $1,840,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MDT. LifeSteps Financial Inc. acquired a new position in Medtronic in the first quarter valued at about $27,000. Lynx Investment Advisory bought a new position in shares of Medtronic during the 2nd quarter valued at about $28,000. Tributary Capital Management LLC acquired a new position in shares of Medtronic in the 1st quarter valued at approximately $33,000. Fortis Group Advisors LLC grew its position in shares of Medtronic by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock valued at $38,000 after purchasing an additional 230 shares during the period. Finally, Riverview Trust Co bought a new stake in Medtronic during the 1st quarter worth approximately $39,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MDT. Piper Sandler lifted their price target on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Daiwa America raised shares of Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a report on Wednesday, August 21st. Citigroup cut their price target on Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Robert W. Baird increased their price objective on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. One investment 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, the company presently has an average rating of “Hold” and a consensus price target of $92.92.

Medtronic Stock Up 1.5 %

MDT stock opened at $89.47 on Friday. The company has a market cap of $114.72 billion, a price-to-earnings ratio of 32.53, a P/E/G ratio of 2.57 and a beta of 0.84. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.49. The business has a 50 day moving average price of $84.55 and a two-hundred day moving average price of $82.96. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55.

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

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.13%. Medtronic’s dividend payout ratio is presently 101.82%.

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.