Buck Wealth Strategies LLC Purchases New Position in Medtronic PLC (NYSE:MDT)

Buck Wealth Strategies LLC bought a new stake in Medtronic PLC (NYSE:MDT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,650 shares of the medical technology company's stock, valued at approximately $957,000.

Other large investors have also modified their holdings of the company. Burkett Financial Services LLC lifted its position in Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after purchasing an additional 185 shares during the period. Mainstream Capital Management LLC acquired a new stake in shares of Medtronic in the 4th quarter valued at approximately $26,000. Rakuten Securities Inc. boosted its stake in shares of Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after buying an additional 294 shares in the last quarter. Wood Tarver Financial Group LLC purchased a new position in Medtronic in the fourth quarter worth $27,000. Finally, Optiver Holding B.V. acquired a new stake in Medtronic in the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday. Robert W. Baird lowered their price target on Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Royal Bank Of Canada dropped their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, Truist Financial cut their target price on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $97.87.

Medtronic Trading Down 1.1%

Shares of MDT traded down $0.93 during mid-day trading on Monday, reaching $85.41. The company had a trading volume of 2,968,765 shares, compared to its average volume of 6,896,263. The stock has a market cap of $109.54 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 2.33 and a beta of 0.79. 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 firm has a fifty day simple moving average of $84.49 and a 200-day simple moving average of $86.28. Medtronic PLC has a fifty-two week low of $75.96 and a fifty-two week high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.04. The firm had revenue of $8.93 billion for the quarter, compared to analysts' expectations of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 earnings per share. On average, sell-side analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Friday, June 27th. This is an increase from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio is 77.35%.

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.