Center for Wealth Management Advisory Has $217,000 Position in Medtronic PLC $MDT

Center for Wealth Management Advisory lowered its position in Medtronic PLC (NYSE:MDT) by 85.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,504 shares of the medical technology company’s stock after selling 14,919 shares during the quarter. Center for Wealth Management Advisory’s holdings in Medtronic were worth $217,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Monetary Solutions Ltd acquired a new position in Medtronic during the fourth quarter worth $27,000. Lodestone Wealth Management LLC bought a new stake in shares of Medtronic in the fourth quarter valued at about $27,000. Anfield Capital Management LLC grew its holdings in shares of Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 230 shares in the last quarter. Board of the Pension Protection Fund bought a new stake in Medtronic in the 4th quarter valued at $29,000. Finally, GoalVest Advisory LLC acquired a new position in Medtronic in the fourth quarter worth about $29,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

Medtronic stock opened at $79.32 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. The firm has a market cap of $101.53 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.10 and a beta of 0.56. The business’s fifty day moving average is $79.02 and its two-hundred day moving average is $89.23. Medtronic PLC has a 52 week low of $73.31 and a 52 week high of $106.33.

Medtronic (NYSE:MDT) last announced its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The company had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. During the same period last year, the company posted $1.62 earnings per share. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities research analysts forecast that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be paid a $0.72 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, June 26th. Medtronic’s payout ratio is presently 77.21%.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

MDT has been the subject of several analyst reports. TD Cowen restated a “buy” rating and set a $119.00 target price on shares of Medtronic in a research report on Thursday, June 4th. UBS Group dropped their price objective on Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Sanford C. Bernstein cut their price objective on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Truist Financial reduced their target price on shares of Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a research note on Thursday, June 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $101.00 target price on shares of Medtronic in a research report on Wednesday, June 17th. Seventeen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).