Core Wealth Advisors LLC Acquires Shares of 8,437 Medtronic PLC $MDT

Core Wealth Advisors LLC acquired a new stake in shares of Medtronic PLC (NYSE:MDT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,437 shares of the medical technology company’s stock, valued at approximately $810,000. Medtronic accounts for about 0.5% of Core Wealth Advisors LLC’s holdings, making the stock its 28th biggest position.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MDT. Lodestone Wealth Management LLC purchased a new position in Medtronic during the fourth quarter valued at $27,000. Anfield Capital Management LLC increased its holdings in shares of Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 230 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in shares of Medtronic during the third quarter valued at $29,000. Board of the Pension Protection Fund bought a new position in shares of Medtronic during the fourth quarter valued at $29,000. Finally, GoalVest Advisory LLC bought a new position in shares of Medtronic during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MDT shares. Mizuho reduced their price target on Medtronic from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. The Goldman Sachs Group set a $84.00 price target on Medtronic and gave the company a “neutral” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. reduced their price target on Medtronic from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $120.00 price target on shares of Medtronic in a report on Thursday, March 26th. Fifteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.45.

Medtronic Trading Down 2.4%

Shares of NYSE:MDT opened at $73.73 on Friday. The stock has a market capitalization of $94.66 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.76 and a beta of 0.62. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The stock’s 50-day simple moving average is $82.36 and its two-hundred day simple moving average is $92.65. Medtronic PLC has a 52-week low of $73.67 and a 52-week high of $106.33.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, March 27th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Friday, March 27th. Medtronic’s dividend payout ratio (DPR) is presently 79.11%.

Medtronic Profile

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).