Wolff Wiese Magana LLC Purchases 2,174 Shares of Medtronic PLC (NYSE:MDT)

Wolff Wiese Magana LLC raised its position in shares of Medtronic PLC (NYSE:MDT) by 12.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,142 shares of the medical technology company’s stock after acquiring an additional 2,174 shares during the quarter. Wolff Wiese Magana LLC’s holdings in Medtronic were worth $1,810,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after purchasing an additional 37,265 shares in the last quarter. Cassaday & Co Wealth Management LLC boosted its position in shares of Medtronic by 210.0% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 7,450 shares of the medical technology company’s stock worth $595,000 after purchasing an additional 5,047 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its position in shares of Medtronic by 10.2% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 24,854 shares of the medical technology company’s stock worth $1,985,000 after purchasing an additional 2,294 shares in the last quarter. VisionPoint Advisory Group LLC bought a new position in shares of Medtronic during the 4th quarter worth about $82,000. Finally, Hudson Edge Investment Partners Inc. boosted its position in shares of Medtronic by 70.3% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 75,198 shares of the medical technology company’s stock worth $6,007,000 after purchasing an additional 31,054 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.7%

NYSE:MDT opened at $86.30 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. The firm has a market cap of $110.68 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 2.33 and a beta of 0.79. Medtronic PLC has a 52 week low of $75.96 and a 52 week high of $96.25. The firm has a 50-day moving average price of $84.49 and a two-hundred day moving average price of $86.27.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS 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 analyst estimates of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $1.46 EPS. On average, equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed 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 is a positive change from Medtronic’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.84 annualized dividend and a yield of 3.29%. Medtronic’s dividend payout ratio (DPR) is 77.35%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MDT shares. Leerink Partners started coverage on shares of Medtronic in a research report on Monday, June 16th. They set an “outperform” rating and a $110.00 price objective on the stock. Mizuho lowered their target price on shares of Medtronic from $100.00 to $98.00 and set an “outperform” rating on the stock in a report on Thursday, May 22nd. Truist Financial lowered their target price on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Leerink Partnrs upgraded shares of Medtronic to a “strong-buy” rating in a report on Monday, June 16th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.87.

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.