ORG Partners LLC Sells 302 Shares of Medtronic PLC (NYSE:MDT)

ORG Partners LLC trimmed its holdings in Medtronic PLC (NYSE:MDT) by 14.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,829 shares of the medical technology company’s stock after selling 302 shares during the quarter. ORG Partners LLC’s holdings in Medtronic were worth $162,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its stake in shares of Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after purchasing an additional 37,265 shares in the last quarter. Cassaday & Co Wealth Management LLC raised its stake in shares of Medtronic by 210.0% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 7,450 shares of the medical technology company’s stock valued at $595,000 after purchasing an additional 5,047 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its stake in shares of Medtronic by 10.2% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 24,854 shares of the medical technology company’s stock valued at $1,985,000 after purchasing an additional 2,294 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new position in shares of Medtronic in the fourth quarter valued at $82,000. Finally, Hudson Edge Investment Partners Inc. raised its stake in shares of Medtronic by 70.3% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 75,198 shares of the medical technology company’s stock valued at $6,007,000 after purchasing an additional 31,054 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MDT shares. Leerink Partnrs upgraded Medtronic to a “strong-buy” rating in a research note on Monday, June 16th. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday. Royal Bank Of Canada cut their target price on Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a research note on Thursday, May 22nd. Robert W. Baird dropped their price objective on Medtronic from $94.00 to $92.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Finally, Mizuho dropped their price objective on Medtronic from $100.00 to $98.00 and set an “outperform” rating for the company in a research note on Thursday, May 22nd. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and an average target price of $97.87.

Medtronic Price Performance

Shares of MDT stock opened at $86.30 on Friday. The stock’s fifty day moving average is $84.49 and its 200-day moving average is $86.27. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. The stock has a market capitalization of $110.68 billion, a PE ratio of 23.84, a PEG 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.

Medtronic (NYSE:MDT) last announced its earnings results 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. The company had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.46 earnings per share. Equities research analysts expect that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Friday, June 27th. This is a boost from Medtronic’s previous quarterly dividend of $0.70. Medtronic’s dividend payout ratio is presently 77.35%.

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.