S.E.E.D. Planning Group LLC Sells 199 Shares of Medtronic plc (NYSE:MDT)

S.E.E.D. Planning Group LLC trimmed its position in shares of Medtronic plc (NYSE:MDT) by 7.8% during the 1st quarter, Holdings Channel reports. The fund owned 2,344 shares of the medical technology company’s stock after selling 199 shares during the period. S.E.E.D. Planning Group LLC’s holdings in Medtronic were worth $204,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MDT. Fortitude Family Office LLC bought a new stake in Medtronic in the fourth quarter worth $25,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Medtronic in the fourth quarter worth approximately $27,000. Financial Gravity Asset Management Inc. boosted its holdings in Medtronic by 317.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 279 shares during the period. Riverview Trust Co bought a new position in Medtronic in the 1st quarter valued at $39,000. Finally, Fortis Group Advisors LLC increased its stake in Medtronic by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 230 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Performance

Medtronic stock traded up $0.08 during mid-day trading on Friday, reaching $78.71. 8,917,219 shares of the company traded hands, compared to its average volume of 6,371,193. The firm’s fifty day moving average is $81.85 and its two-hundred day moving average is $83.50. The company has a market capitalization of $100.93 billion, a price-to-earnings ratio of 28.62, a price-to-earnings-growth ratio of 2.31 and a beta of 0.83. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.00. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 1.55.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.01. The company had revenue of $8.59 billion during 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%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.57 EPS. On average, equities research analysts expect that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, June 28th. This is an increase from Medtronic’s previous quarterly dividend of $0.69. This represents a $2.80 dividend on an annualized basis and a yield of 3.56%. Medtronic’s payout ratio is presently 101.82%.

Insiders Place Their Bets

In related news, CEO Geoffrey Martha sold 19,113 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction 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 transaction was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the sale, 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 SEC, which is available through this hyperlink. Also, CEO Geoffrey Martha sold 19,113 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 143,348 shares of the company’s stock, valued at approximately $12,008,261.96. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Friday, May 24th. UBS Group upped their target price on Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a report on Friday, May 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a report on Wednesday, June 5th. Finally, The Goldman Sachs Group began coverage on Medtronic in a research note on Thursday, May 30th. They set a “sell” rating and a $83.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $93.00.

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.