Medtronic PLC (NYSE:MDT) Shares Acquired by JFS Wealth Advisors LLC

JFS Wealth Advisors LLC increased its position in shares of Medtronic PLC (NYSE:MDT) by 58.7% during the first quarter, Holdings Channel reports. The fund owned 3,948 shares of the medical technology company’s stock after acquiring an additional 1,460 shares during the quarter. JFS Wealth Advisors LLC’s holdings in Medtronic were worth $355,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mainstream Capital Management LLC purchased a new position in shares of Medtronic during the 4th quarter worth $26,000. Burkett Financial Services LLC grew its position in shares of Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 185 shares during the period. Rakuten Securities Inc. increased its stake in Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 294 shares during the last quarter. Wood Tarver Financial Group LLC purchased a new position in Medtronic during the fourth quarter worth about $27,000. Finally, Optiver Holding B.V. purchased a new position in Medtronic during the fourth quarter worth about $31,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Down 0.4%

Shares of NYSE MDT opened at $86.02 on Tuesday. The stock has a fifty day moving average price of $84.53 and a 200 day moving average price of $86.30. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. Medtronic PLC has a 12-month low of $75.96 and a 12-month high of $96.25. The company has a market cap of $110.32 billion, a P/E ratio of 23.76, a P/E/G ratio of 2.33 and a beta of 0.79.

Medtronic (NYSE:MDT) last posted its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 14.54% and a net margin of 13.90%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 earnings per share. Research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given 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 3.30%. Medtronic’s dividend payout ratio (DPR) is 77.35%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Leerink Partners initiated coverage on shares of Medtronic in a research note on Monday, June 16th. They set an “outperform” rating and a $110.00 price objective for the company. Royal Bank Of Canada lowered their target price on shares of Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and increased their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Friday, June 6th. Finally, Mizuho dropped their price objective on Medtronic from $100.00 to $98.00 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 issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.87.

Medtronic Company 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.