Worth Financial Advisory Group LLC Acquires 4,521 Shares of Medtronic PLC (NYSE:MDT)

Worth Financial Advisory Group LLC lifted its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 141.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,721 shares of the medical technology company's stock after acquiring an additional 4,521 shares during the period. Worth Financial Advisory Group LLC's holdings in Medtronic were worth $694,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Advocate Group LLC lifted its stake in shares of Medtronic by 3.0% in the first quarter. Advocate Group LLC now owns 110,031 shares of the medical technology company's stock valued at $9,887,000 after buying an additional 3,255 shares in the last quarter. Meriwether Wealth & Planning LLC lifted its stake in shares of Medtronic by 15.1% in the first quarter. Meriwether Wealth & Planning LLC now owns 10,338 shares of the medical technology company's stock valued at $929,000 after buying an additional 1,357 shares in the last quarter. Walter & Keenan Wealth Management LLC IN ADV lifted its stake in shares of Medtronic by 1.0% in the first quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 28,047 shares of the medical technology company's stock valued at $2,520,000 after buying an additional 280 shares in the last quarter. DecisionMap Wealth Management LLC lifted its stake in shares of Medtronic by 2.9% in the first quarter. DecisionMap Wealth Management LLC now owns 6,107 shares of the medical technology company's stock valued at $549,000 after buying an additional 174 shares in the last quarter. Finally, Autumn Glory Partners LLC lifted its stake in shares of Medtronic by 6.2% in the first quarter. Autumn Glory Partners LLC now owns 33,302 shares of the medical technology company's stock valued at $3,256,000 after buying an additional 1,945 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Performance

MDT stock opened at $86.30 on Friday. The firm has a market cap of $110.68 billion, a PE ratio of 23.84, a P/E/G ratio of 2.31 and a beta of 0.79. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average of $84.49 and a 200-day moving average of $86.26. Medtronic PLC has a 12-month low of $75.96 and a 12-month high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.58 by $0.04. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The business had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. Medtronic's revenue for the quarter was up 3.9% on a year-over-year basis. As a group, sell-side analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The company 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 $0.71 dividend. This is an increase from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.84 annualized dividend and a yield of 3.29%. Medtronic's dividend payout ratio is presently 77.35%.

Analysts Set New Price Targets

A number of analysts have commented on MDT shares. Robert W. Baird decreased their price objective on Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Truist Financial decreased their price objective on 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 price objective for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Leerink Partnrs raised Medtronic to a "strong-buy" rating in a report on Monday, June 16th. Finally, Royal Bank Of Canada decreased their price objective on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Medtronic presently has an average rating of "Moderate Buy" and an average target price of $97.87.

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.

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