Laurel Wealth Advisors LLC Buys 1,208 Shares of Medtronic plc (NYSE:MDT)

Laurel Wealth Advisors LLC boosted its stake in shares of Medtronic plc (NYSE:MDT) by 11.1% in the first quarter, Holdings Channel reports. The firm owned 12,046 shares of the medical technology company’s stock after acquiring an additional 1,208 shares during the period. Laurel Wealth Advisors LLC’s holdings in Medtronic were worth $1,082,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in Medtronic by 1,368.0% in 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 period. Golden State Wealth Management LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at about $78,000. Angeles Wealth Management LLC increased its stake in shares of Medtronic by 36.3% in the fourth quarter. Angeles Wealth Management LLC now owns 3,085 shares of the medical technology company’s stock worth $246,000 after purchasing an additional 822 shares during the period. Savant Capital LLC increased its stake in shares of Medtronic by 138.0% in the fourth quarter. Savant Capital LLC now owns 89,644 shares of the medical technology company’s stock worth $7,161,000 after purchasing an additional 51,985 shares during the period. Finally, Paladin Wealth LLC lifted its position in shares of Medtronic by 21.9% during the 4th quarter. Paladin Wealth LLC now owns 10,685 shares of the medical technology company’s stock worth $854,000 after purchasing an additional 1,917 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on MDT shares. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and raised their target price for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Truist Financial reduced their price objective on Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, April 11th. Royal Bank of Canada lowered their price objective on shares of Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Friday, June 6th. Finally, Mizuho reduced their price target 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. Nine 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.00.

Medtronic Stock Up 0.5%

MDT opened at $87.92 on Wednesday. The company has a market capitalization of $112.77 billion, a P/E ratio of 26.72, a P/E/G ratio of 2.22 and a beta of 0.79. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm’s fifty day moving average price is $83.89 and its two-hundred day moving average price is $86.22. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.04. The firm had revenue of $8.93 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.46 earnings per share. On average, 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 issued 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 annualized dividend and a yield of 3.23%. The ex-dividend date is Friday, June 27th. Medtronic’s dividend payout ratio (DPR) is currently 78.45%.

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.