Aegis Wealth Management LLC Buys 3,500 Shares of Medtronic PLC (NYSE:MDT)

Aegis Wealth Management LLC raised its stake in shares of Medtronic PLC (NYSE:MDT) by 104.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,854 shares of the medical technology company’s stock after purchasing an additional 3,500 shares during the quarter. Aegis Wealth Management LLC’s holdings in Medtronic were worth $616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of MDT. Invesco Ltd. lifted its position in Medtronic by 17.8% during the fourth quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company’s stock valued at $1,233,769,000 after purchasing an additional 2,333,600 shares during the last quarter. Burgundy Asset Management Ltd. bought a new stake in shares of Medtronic in the 4th quarter worth approximately $174,329,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Medtronic in the 4th quarter worth approximately $139,869,000. Mackenzie Financial Corp lifted its holdings in shares of Medtronic by 220.9% in the 1st quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company’s stock worth $216,753,000 after acquiring an additional 1,660,357 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Medtronic by 21.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,910,161 shares of the medical technology company’s stock worth $711,744,000 after acquiring an additional 1,566,776 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Up 0.6%

Shares of Medtronic stock opened at $92.48 on Wednesday. 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 fifty day simple moving average is $87.26 and its two-hundred day simple moving average is $87.71. The company has a market cap of $118.61 billion, a P/E ratio of 25.55, a PEG ratio of 2.39 and a beta of 0.80. Medtronic PLC has a 12-month low of $78.96 and a 12-month high of $96.25.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.04. The business had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 EPS. Research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were given 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 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Friday, June 27th. Medtronic’s payout ratio is presently 78.45%.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of recent research reports. Royal Bank Of Canada lowered their price objective on shares of Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. BTIG Research restated a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. Leerink Partnrs upgraded shares of Medtronic to a “strong-buy” rating in a report on Monday, June 16th. Finally, Evercore ISI boosted their price objective on shares of Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. 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’s stock. According to MarketBeat.com, Medtronic has a consensus rating of “Moderate Buy” and an average target price of $98.19.

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.