Premier Path Wealth Partners LLC Boosts Holdings in Medtronic plc (NYSE:MDT)

Premier Path Wealth Partners LLC boosted its holdings in shares of Medtronic plc (NYSE:MDT) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,135 shares of the medical technology company’s stock after buying an additional 579 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Medtronic were worth $1,349,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MDT. Boyar Asset Management Inc. boosted its holdings in Medtronic by 2.6% in the fourth quarter. Boyar Asset Management Inc. now owns 4,655 shares of the medical technology company’s stock valued at $383,000 after purchasing an additional 120 shares during the last quarter. Hall Laurie J Trustee lifted its holdings in shares of Medtronic by 0.3% in the 1st quarter. Hall Laurie J Trustee now owns 44,015 shares of the medical technology company’s stock valued at $3,835,000 after buying an additional 125 shares during the period. Quent Capital LLC boosted its stake in shares of Medtronic by 8.0% in the first quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock worth $146,000 after buying an additional 125 shares during the last quarter. Abbrea Capital LLC grew its holdings in Medtronic by 2.5% during the first quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock worth $446,000 after acquiring an additional 125 shares during the period. Finally, Angeles Investment Advisors LLC raised its position in Medtronic by 1.0% during the fourth quarter. Angeles Investment Advisors LLC now owns 12,627 shares of the medical technology company’s stock valued at $1,046,000 after acquiring an additional 128 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MDT has been the topic of a number of analyst reports. Oppenheimer raised their price objective on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and raised their price target for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. Citigroup decreased their price objective on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Robert W. Baird raised their target price on Medtronic from $82.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Wells Fargo & Company upped their price target on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $92.92.

Medtronic Price Performance

NYSE MDT traded up $0.52 during mid-day trading on Friday, hitting $88.35. The stock had a trading volume of 4,841,574 shares, compared to its average volume of 6,307,863. The firm’s 50 day moving average is $80.48 and its 200 day moving average is $82.35. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 1.55. The stock has a market capitalization of $113.29 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 2.35 and a beta of 0.82. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $89.24.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The business had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.20 earnings per share. Equities research analysts forecast that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.17%. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

Insider Activity at Medtronic

In other news, CEO Geoffrey Martha sold 19,113 shares of Medtronic stock in a transaction on Friday, June 7th. The stock was sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the transaction, the chief executive officer now owns 143,348 shares in the company, valued at approximately $12,008,261.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.30% of the company’s stock.

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.