Daymark Wealth Partners LLC Has $4.16 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Daymark Wealth Partners LLC increased its position in shares of Medtronic plc (NYSE:MDT) by 7.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,258 shares of the medical technology company’s stock after acquiring an additional 3,221 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Medtronic were worth $4,157,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC grew its holdings in shares of Medtronic by 2.7% in the 4th quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company’s stock valued at $8,453,000 after buying an additional 2,778 shares during the period. Equitable Trust Co. lifted its holdings in Medtronic by 91.7% during the fourth quarter. Equitable Trust Co. now owns 39,645 shares of the medical technology company’s stock worth $3,167,000 after acquiring an additional 18,968 shares in the last quarter. TCTC Holdings LLC lifted its holdings in Medtronic by 3.4% during the fourth quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company’s stock worth $3,173,000 after acquiring an additional 1,301 shares in the last quarter. Brighton Jones LLC grew its stake in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after acquiring an additional 37,265 shares during the period. Finally, Oxford Asset Management LLP increased its holdings in shares of Medtronic by 70.1% in the fourth quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company’s stock worth $594,000 after acquiring an additional 3,068 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the topic of several recent analyst reports. UBS Group lifted 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Friday. Truist Financial reduced their price target 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. Robert W. Baird dropped their price objective on shares of Medtronic from $94.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. Finally, Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.00.

Medtronic Stock Up 0.4%

Medtronic stock opened at $87.38 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The company has a fifty day simple moving average of $83.92 and a 200 day simple moving average of $86.19. The company has a market cap of $112.07 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.04. The company 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 company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 EPS. Research analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.25%. This is an increase from Medtronic’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, June 27th. Medtronic’s dividend payout ratio (DPR) is currently 78.45%.

Medtronic 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.