WCG Wealth Advisors LLC Acquires 5,606 Shares of Medtronic plc (NYSE:MDT)

WCG Wealth Advisors LLC boosted its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 24.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,384 shares of the medical technology company's stock after acquiring an additional 5,606 shares during the period. WCG Wealth Advisors LLC's holdings in Medtronic were worth $2,267,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MDT. Mainstream Capital Management LLC bought a new stake in shares of Medtronic in the 4th quarter valued at approximately $26,000. Stephens Consulting LLC grew its position in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 204 shares during the period. Rakuten Securities Inc. raised its stake in Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after acquiring an additional 294 shares in the last quarter. Optiver Holding B.V. bought a new position in shares of Medtronic during the fourth quarter valued at $31,000. Finally, Chapman Financial Group LLC acquired a new stake in shares of Medtronic in the 4th quarter valued at $33,000. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MDT. Royal Bank of Canada dropped their target price on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Mizuho dropped their price target on Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Finally, Robert W. Baird reduced their price objective on Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Medtronic has an average rating of "Hold" and a consensus target price of $96.07.

Medtronic Trading Up 1.0%

MDT stock traded up $0.79 during midday trading on Thursday, reaching $82.03. The company's stock had a trading volume of 2,491,786 shares, compared to its average volume of 6,801,688. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The stock has a market cap of $105.21 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The business's 50-day simple moving average is $84.46 and its 200-day simple moving average is $86.28.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.04. The company had revenue of $8.93 billion during the quarter, compared to analysts' expectations of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business's quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 earnings per share. As a group, sell-side analysts expect that Medtronic plc will post 5.46 EPS for the current 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 $0.71 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.46%. This is an increase from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio (DPR) is 78.45%.

About Medtronic

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.