Medtronic plc (NYSE:MDT) Shares Acquired by Allen Mooney & Barnes Investment Advisors LLC

Allen Mooney & Barnes Investment Advisors LLC lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 134,308 shares of the medical technology company’s stock after acquiring an additional 6,360 shares during the period. Medtronic accounts for about 2.0% of Allen Mooney & Barnes Investment Advisors LLC’s holdings, making the stock its 20th biggest position. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Medtronic were worth $12,069,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mainstream Capital Management LLC purchased a new position in shares of Medtronic in the 4th quarter valued at approximately $26,000. Burkett Financial Services LLC lifted its holdings in shares of Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 185 shares during the period. Rakuten Securities Inc. grew its position in Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after buying an additional 294 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new position in Medtronic in the 4th quarter valued at $27,000. Finally, Optiver Holding B.V. acquired a new position in Medtronic in the 4th quarter valued at $31,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MDT has been the topic of a number of recent analyst reports. Robert W. Baird dropped their price target on shares of Medtronic from $94.00 to $92.00 and set a “neutral” 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 report on Friday, June 6th. UBS Group increased their target price on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada decreased their price target on Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Finally, Wall Street Zen cut Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Nine equities research 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 data from MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and an average price target of $97.00.

Medtronic Price Performance

Medtronic stock opened at $88.01 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The firm’s 50-day simple moving average is $83.99 and its 200 day simple moving average is $86.23. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The firm has a market capitalization of $112.88 billion, a PE ratio of 26.75, a P/E/G ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT) last announced its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.04. The firm 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 firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.46 EPS. On average, equities research analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm 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. This is a positive change 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 of this dividend is Friday, June 27th. Medtronic’s dividend payout ratio is presently 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.