Medtronic plc (NYSE:MDT) Shares Sold by Algert Global LLC

Algert Global LLC decreased its position in shares of Medtronic plc (NYSE:MDT) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,057 shares of the medical technology company’s stock after selling 147 shares during the quarter. Algert Global LLC’s holdings in Medtronic were worth $241,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Lynx Investment Advisory purchased a new position in shares of Medtronic in the second quarter valued at $28,000. Tributary Capital Management LLC acquired a new stake in Medtronic in the 1st quarter valued at about $33,000. Fortis Group Advisors LLC increased its holdings in Medtronic by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock valued at $38,000 after acquiring an additional 230 shares in the last quarter. Riverview Trust Co acquired a new position in Medtronic during the first quarter worth about $39,000. Finally, Gleason Group Inc. purchased a new stake in shares of Medtronic in the second quarter valued at about $42,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Up 0.2 %

Shares of NYSE MDT opened at $88.35 on Thursday. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $113.28 billion, a PE ratio of 32.13, a P/E/G ratio of 2.56 and a beta of 0.84. The firm has a fifty day moving average of $87.06 and a 200-day moving average of $83.35. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $91.49.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. The company had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 earnings per share. On average, analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Tuesday, August 20th. Royal Bank of Canada boosted their price target on Medtronic from $92.00 to $98.00 and gave the stock a “sector perform” rating in a report on Tuesday. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and increased their price objective for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Evercore ISI boosted their target price on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Oppenheimer raised their price target on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $94.64.

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.