Physician Wealth Advisors Inc. Has $241,000 Stock Position in Medtronic plc (NYSE:MDT)

Physician Wealth Advisors Inc. grew its position in shares of Medtronic plc (NYSE:MDT) by 22.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,042 shares of the medical technology company’s stock after acquiring an additional 561 shares during the quarter. Physician Wealth Advisors Inc.’s holdings in Medtronic were worth $241,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. New Mexico Educational Retirement Board increased its position in Medtronic by 13.0% during the 1st quarter. New Mexico Educational Retirement Board now owns 78,187 shares of the medical technology company’s stock worth $6,814,000 after buying an additional 9,000 shares during the period. Guidance Capital Inc. increased its position in Medtronic by 18.6% during the 1st quarter. Guidance Capital Inc. now owns 9,923 shares of the medical technology company’s stock worth $796,000 after buying an additional 1,554 shares during the period. Foguth Wealth Management LLC. bought a new position in Medtronic during the 1st quarter worth $242,000. Coston McIsaac & Partners increased its position in Medtronic by 3.3% during the 1st quarter. Coston McIsaac & Partners now owns 53,386 shares of the medical technology company’s stock worth $4,651,000 after buying an additional 1,697 shares during the period. Finally, Vicus Capital increased its position in Medtronic by 22.9% during the 1st quarter. Vicus Capital now owns 8,615 shares of the medical technology company’s stock worth $751,000 after buying an additional 1,604 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on MDT. UBS Group raised their price target on Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a research report on Friday, May 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a research note on Wednesday, June 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Friday, May 24th. The Goldman Sachs Group assumed coverage on Medtronic in a research note on Thursday, May 30th. They set a “sell” rating and a $83.00 price target on the stock. Finally, Truist Financial cut their price target on Medtronic from $90.00 to $88.00 and set a “hold” rating on the stock in a research note on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $93.00.

Medtronic Stock Up 0.1 %

Shares of NYSE MDT traded up $0.08 during midday trading on Friday, hitting $78.71. 8,917,219 shares of the stock traded hands, compared to its average volume of 6,371,193. The company has a market cap of $100.93 billion, a PE ratio of 28.62, a P/E/G ratio of 2.29 and a beta of 0.83. Medtronic plc has a one year low of $68.84 and a one year high of $91.00. The business has a 50 day moving average price of $81.85 and a two-hundred day moving average price of $83.52. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.03.

Medtronic (NYSE:MDT) last announced its earnings results on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.01. The company had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.44 billion. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. Medtronic’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.57 earnings per share. On average, equities analysts predict that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.70 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.80 annualized dividend and a yield of 3.56%. This is a boost from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s payout ratio is currently 100.36%.

Insider Activity

In other news, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Geoffrey Martha sold 19,113 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $83.77, for a total value of $1,601,096.01. Following the sale, the chief executive officer now owns 143,348 shares in the company, valued at $12,008,261.96. The disclosure for this sale can be found here. 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.