RWA Wealth Partners LLC Boosts Stock Position in Medtronic PLC $MDT

Key Points

• RWA Wealth Partners LLC increased its stake in Medtronic PLC by 543.8%, acquiring 62,697 shares during the first quarter, bringing its total holdings to 74,227 shares worth approximately $6.67 million.
• A variety of institutional investors are also increasing their holdings in Medtronic, with 82.06% of the stock currently owned by institutional investors, indicating strong confidence in the company.
• The company recently announced a quarterly dividend of $0.71 per share, reflecting an annualized dividend yield of 3.1% and a payout ratio of 78.45%.

RWA Wealth Partners LLC grew its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 543.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,227 shares of the medical technology company's stock after purchasing an additional 62,697 shares during the quarter. RWA Wealth Partners LLC's holdings in Medtronic were worth $6,670,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dunhill Financial LLC lifted its holdings in shares of Medtronic by 17.2% in the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock worth $76,000 after buying an additional 124 shares in the last quarter. Cidel Asset Management Inc. boosted its holdings in Medtronic by 1.3% in the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock valued at $856,000 after purchasing an additional 126 shares during the period. Petros Family Wealth LLC grew its position in shares of Medtronic by 4.3% during the 1st quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock valued at $280,000 after purchasing an additional 127 shares in the last quarter. Motco increased its holdings in shares of Medtronic by 27.0% in the first quarter. Motco now owns 635 shares of the medical technology company's stock worth $57,000 after purchasing an additional 135 shares during the period. Finally, Baker Avenue Asset Management LP increased its holdings in shares of Medtronic by 3.1% in the first quarter. Baker Avenue Asset Management LP now owns 4,558 shares of the medical technology company's stock worth $410,000 after purchasing an additional 136 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Up 1.7%

NYSE:MDT traded up $1.5210 during trading hours on Friday, reaching $92.6210. The company's stock had a trading volume of 4,870,626 shares, compared to its average volume of 7,618,189. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. The firm has a market capitalization of $118.72 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 2.31 and a beta of 0.80. The firm has a 50-day simple moving average of $89.73 and a 200-day simple moving average of $88.03. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.03. The firm had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a return on equity of 14.56% and a net margin of 13.63%.The company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's payout ratio is 78.24%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Evercore ISI boosted their target price on Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Sanford C. Bernstein lifted their price target on Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a research report on Wednesday. Royal Bank Of Canada decreased their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of "Moderate Buy" and an average price target of $101.15.

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.