Western Wealth Management LLC Has $1.20 Million Position in Medtronic plc (NYSE:MDT)

Western Wealth Management LLC trimmed its holdings in Medtronic plc (NYSE:MDT - Free Report) by 28.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,055 shares of the medical technology company's stock after selling 5,964 shares during the period. Western Wealth Management LLC's holdings in Medtronic were worth $1,203,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. MONECO Advisors LLC grew its stake in Medtronic by 1.8% during the 4th 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 in the last quarter. OLD Second National Bank of Aurora lifted its holdings in shares of Medtronic by 0.3% in the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock valued at $2,900,000 after purchasing an additional 121 shares during the last quarter. McKinley Carter Wealth Services Inc. lifted its holdings in shares of Medtronic by 0.7% in 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 purchasing an additional 129 shares during the last quarter. Faithward Advisors LLC lifted its holdings in shares of Medtronic by 2.7% in the 4th quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock valued at $403,000 after purchasing an additional 134 shares during the last quarter. Finally, Vestor Capital LLC raised its stake in Medtronic by 0.3% during the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock valued at $4,104,000 after acquiring an additional 138 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on MDT shares. Royal Bank of Canada dropped their target price on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Mizuho lowered their price target on Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. 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. Wall Street Zen cut Medtronic from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $96.07.

Medtronic Trading Up 0.6%

NYSE MDT traded up $0.46 on Tuesday, hitting $81.14. 8,294,259 shares of the stock were exchanged, compared to its average volume of 6,817,710. The company's 50-day moving average price is $84.84 and its two-hundred day moving average price is $86.35. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The company has a market capitalization of $104.07 billion, a price-to-earnings ratio of 24.66, a P/E/G ratio of 2.22 and a beta of 0.81.

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

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.71 per share. This is an increase from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date is Friday, June 27th. This represents a $2.84 annualized dividend and a dividend yield of 3.50%. Medtronic's payout ratio is presently 78.45%.

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.