Aspiriant LLC Invests $306,000 in Medtronic PLC (NYSE:MDT)

Aspiriant LLC bought a new position in Medtronic PLC (NYSE:MDT) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,406 shares of the medical technology company’s stock, valued at approximately $306,000.

A number of other large investors have also added to or reduced their stakes in MDT. Brighton Jones LLC raised its holdings in Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after buying an additional 37,265 shares during the last quarter. J.W. Cole Advisors Inc. raised its holdings in Medtronic by 3.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 9,778 shares of the medical technology company’s stock valued at $781,000 after buying an additional 328 shares during the last quarter. Americana Partners LLC raised its holdings in Medtronic by 5.8% in the 4th quarter. Americana Partners LLC now owns 6,884 shares of the medical technology company’s stock valued at $550,000 after buying an additional 379 shares during the last quarter. Empower Advisory Group LLC raised its holdings in Medtronic by 5.5% in the 4th quarter. Empower Advisory Group LLC now owns 4,447 shares of the medical technology company’s stock valued at $355,000 after buying an additional 231 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in Medtronic by 183.2% in the 4th quarter. Venturi Wealth Management LLC now owns 6,374 shares of the medical technology company’s stock valued at $509,000 after buying an additional 4,123 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $85.68 on Thursday. The company has a market cap of $109.88 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 2.33 and a beta of 0.79. Medtronic PLC has a 52 week low of $75.96 and a 52 week high of $96.25. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average of $84.35 and a 200-day moving average of $86.26.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.58 by $0.04. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. During the same quarter last year, the firm posted $1.46 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a $0.71 dividend. The ex-dividend date is Friday, June 27th. This represents a $2.84 annualized dividend and a yield of 3.31%. This is an increase from Medtronic’s previous quarterly dividend of $0.70. Medtronic’s dividend payout ratio (DPR) is presently 77.35%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MDT. Leerink Partners began coverage on shares of Medtronic in a report on Monday. They issued an “outperform” rating and a $110.00 price objective for the company. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and raised their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. UBS Group raised their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Truist Financial lowered their price target on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a report on Friday, April 11th. Finally, Leerink Partnrs upgraded shares of Medtronic to a “strong-buy” rating in a report on Monday. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.87.

About Medtronic

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.