Romano Brothers AND Company Sells 1,450 Shares of Medtronic plc (NYSE:MDT)

Romano Brothers AND Company decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 4.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 35,023 shares of the medical technology company’s stock after selling 1,450 shares during the period. Romano Brothers AND Company’s holdings in Medtronic were worth $3,147,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake 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 worth $3,194,000 after purchasing an additional 37,265 shares during the period. Clear Creek Financial Management LLC boosted its stake in Medtronic by 15.6% in the 4th quarter. Clear Creek Financial Management LLC now owns 3,595 shares of the medical technology company’s stock worth $287,000 after purchasing an additional 484 shares during the period. Chicago Partners Investment Group LLC boosted its stake in Medtronic by 43.9% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,009 shares of the medical technology company’s stock worth $579,000 after purchasing an additional 2,139 shares during the period. Spire Wealth Management boosted its stake in Medtronic by 26.5% in the 4th quarter. Spire Wealth Management now owns 11,849 shares of the medical technology company’s stock worth $946,000 after purchasing an additional 2,481 shares during the period. Finally, Greenleaf Trust boosted its stake in Medtronic by 9.1% in the 4th quarter. Greenleaf Trust now owns 14,095 shares of the medical technology company’s stock worth $1,126,000 after purchasing an additional 1,174 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Robert W. Baird reduced their target price on shares of Medtronic from $94.00 to $92.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Mizuho cut their price target on shares of Medtronic from $100.00 to $98.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Monday, May 19th. UBS Group boosted their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, Truist Financial cut their price target on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.00.

Medtronic Price Performance

Shares of NYSE:MDT opened at $83.73 on Tuesday. The firm has a market cap of $107.38 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The firm’s fifty day moving average is $84.10 and its 200-day moving average is $86.17. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.04. The firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 earnings per share. Sell-side analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a $0.71 dividend. This is a positive change from Medtronic’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.39%. Medtronic’s dividend payout ratio is presently 78.45%.

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.