Guardian Wealth Advisors LLC Sells 395 Shares of Medtronic PLC (NYSE:MDT)

Guardian Wealth Advisors LLC lessened its holdings in shares of Medtronic PLC (NYSE:MDT) by 9.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,825 shares of the medical technology company’s stock after selling 395 shares during the quarter. Guardian Wealth Advisors LLC’s holdings in Medtronic were worth $344,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDT. Norges Bank bought a new stake in Medtronic during the 4th quarter valued at $1,163,580,000. Beutel Goodman & Co Ltd. bought a new stake in shares of Medtronic in the 4th quarter worth $377,169,000. Invesco Ltd. grew its stake in shares of Medtronic by 17.8% in the 4th quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company’s stock worth $1,233,769,000 after acquiring an additional 2,333,600 shares in the last quarter. Burgundy Asset Management Ltd. bought a new stake in shares of Medtronic in the 4th quarter worth $174,329,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Medtronic in the 4th quarter worth $139,869,000. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on MDT shares. Citigroup upped their target price on shares of Medtronic from $98.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Friday, June 6th. Leerink Partnrs upgraded shares of Medtronic to a “strong-buy” rating in a research report on Monday, June 16th. 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 research report on Thursday, May 22nd. Finally, Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, June 21st. Eleven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $98.06.

Medtronic Trading Down 0.5%

Shares of Medtronic stock opened at $89.26 on Wednesday. Medtronic PLC has a 12-month low of $76.68 and a 12-month high of $96.25. The company has a market cap of $114.47 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 2.33 and a beta of 0.80. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average price is $86.03 and its 200-day moving average price is $86.97.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.04. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The firm had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. During the same period in the prior year, the firm posted $1.46 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were paid a $0.71 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was 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.