3,269 Shares in Medtronic plc (NYSE:MDT) Purchased by Wellington Wealth Strategies LLC.

Wellington Wealth Strategies LLC. bought a new stake in shares of Medtronic plc (NYSE:MDT) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,269 shares of the medical technology company’s stock, valued at approximately $257,000. Medtronic makes up about 1.1% of Wellington Wealth Strategies LLC.’s holdings, making the stock its 28th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of MDT. Capital Research Global Investors grew its stake in Medtronic by 7.1% during the first quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after acquiring an additional 2,044,109 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in Medtronic by 8.3% in the 2nd quarter. Pzena Investment Management LLC now owns 8,307,123 shares of the medical technology company’s stock valued at $653,854,000 after purchasing an additional 637,931 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Medtronic by 7.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock valued at $560,494,000 after purchasing an additional 515,751 shares during the period. Longview Partners Guernsey LTD increased its holdings in shares of Medtronic by 2.3% in the first quarter. Longview Partners Guernsey LTD now owns 6,635,054 shares of the medical technology company’s stock worth $578,245,000 after purchasing an additional 147,737 shares during the period. Finally, Raymond James & Associates increased its stake in Medtronic by 5.7% in the 2nd quarter. Raymond James & Associates now owns 6,246,361 shares of the medical technology company’s stock worth $491,651,000 after acquiring an additional 336,618 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on MDT. Wells Fargo & Company boosted their price objective on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Stifel Nicolaus boosted their price target on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Truist Financial increased their price target on shares of Medtronic from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Citigroup dropped their price objective on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and increased their target price for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $92.92.

Medtronic Stock Down 0.1 %

MDT opened at $89.32 on Monday. The company has a market cap of $114.53 billion, a P/E ratio of 32.48, a P/E/G ratio of 2.56 and a beta of 0.84. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $91.49. The business’s 50-day moving average price is $85.79 and its 200-day moving average price is $83.11. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55.

Medtronic (NYSE:MDT) last released 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. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. During the same quarter in the prior year, the firm posted $1.20 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

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.