Medtronic plc (NYSE:MDT) Shares Purchased by Waverly Advisors LLC

Waverly Advisors LLC lifted its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 166.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,419 shares of the medical technology company's stock after purchasing an additional 16,491 shares during the quarter. Waverly Advisors LLC's holdings in Medtronic were worth $2,110,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MDT. MONECO Advisors LLC increased its position in Medtronic by 1.8% during the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock worth $512,000 after purchasing an additional 115 shares during the last quarter. OLD Second National Bank of Aurora increased its position in shares of Medtronic by 0.3% in the fourth quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock worth $2,900,000 after acquiring an additional 121 shares in the last quarter. McKinley Carter Wealth Services Inc. raised its holdings in shares of Medtronic by 0.7% during the 4th quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company's stock valued at $1,572,000 after buying an additional 129 shares during the period. Faithward Advisors LLC boosted its holdings in Medtronic by 2.7% in the 4th quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock worth $403,000 after acquiring an additional 134 shares during the period. Finally, Vestor Capital LLC boosted its stake in shares of Medtronic by 0.3% in the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock valued at $4,104,000 after purchasing an additional 138 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Up 0.7%

MDT traded up $0.61 during trading on Wednesday, reaching $81.79. 2,476,564 shares of the stock traded hands, compared to its average volume of 7,619,257. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The stock has a market capitalization of $104.90 billion, a PE ratio of 24.86, a P/E/G ratio of 2.22 and a beta of 0.81. The stock's 50-day moving average is $84.64 and its 200 day moving average is $86.31. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. During the same quarter in the prior year, the company earned $1.46 earnings per share. The firm's quarterly revenue was up 3.9% compared to the same quarter last year. Equities analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a dividend of $0.71 per share. This is a boost from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, June 27th. Medtronic's dividend payout ratio is 78.45%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MDT. Robert W. Baird cut their target price on Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Mizuho decreased their target price on Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Royal Bank of Canada reduced their target price on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Truist Financial dropped their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $96.07.

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.