WCG Wealth Advisors LLC Acquires 2,706 Shares of Medtronic plc (NYSE:MDT)

WCG Wealth Advisors LLC grew its stake in Medtronic plc (NYSE:MDT) by 13.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 23,374 shares of the medical technology company’s stock after acquiring an additional 2,706 shares during the period. WCG Wealth Advisors LLC’s holdings in Medtronic were worth $1,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the stock. LifeSteps Financial Inc. bought a new position in Medtronic during the first quarter worth about $27,000. Lynx Investment Advisory acquired a new stake in Medtronic during the second quarter worth about $28,000. Tributary Capital Management LLC bought a new position in Medtronic in the 1st quarter valued at about $33,000. Fortis Group Advisors LLC raised its position in shares of Medtronic by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock valued at $38,000 after buying an additional 230 shares in the last quarter. Finally, Riverview Trust Co bought a new stake in shares of Medtronic during the 1st quarter worth approximately $39,000. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MDT has been the subject of several research analyst reports. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. Oppenheimer lifted their price target on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research note on Wednesday, August 21st. Piper Sandler upped their price objective on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Wells Fargo & Company lifted their target price on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Stifel Nicolaus boosted their target price on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $92.92.

Medtronic Trading Up 1.5 %

Shares of NYSE MDT opened at $89.47 on Friday. The firm has a 50 day moving average price of $84.55 and a two-hundred day moving average price of $82.96. The stock has a market cap of $114.72 billion, a P/E ratio of 32.53, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $91.49. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The business had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. Medtronic’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.20 earnings per share. As a group, equities analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.13%. Medtronic’s dividend payout ratio (DPR) is 101.82%.

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.