TFC Financial Management Inc. Has $132,000 Position in Medtronic PLC (NYSE:MDT)

TFC Financial Management Inc. lessened its holdings in shares of Medtronic PLC (NYSE:MDT) by 9.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,469 shares of the medical technology company’s stock after selling 145 shares during the quarter. TFC Financial Management Inc.’s holdings in Medtronic were worth $132,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MDT. Brighton Jones LLC boosted its stake in Medtronic by 1,368.0% during the 4th 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 during the last quarter. Lake Street Advisors Group LLC lifted its holdings in shares of Medtronic by 4.5% in the fourth quarter. Lake Street Advisors Group LLC now owns 6,296 shares of the medical technology company’s stock valued at $507,000 after purchasing an additional 272 shares in the last quarter. Simmons Bank boosted its position in shares of Medtronic by 6.7% during the fourth quarter. Simmons Bank now owns 8,810 shares of the medical technology company’s stock valued at $704,000 after buying an additional 550 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in Medtronic during the fourth quarter worth $120,000. Finally, Robeco Schweiz AG grew its holdings in Medtronic by 40.3% during the fourth quarter. Robeco Schweiz AG now owns 145,807 shares of the medical technology company’s stock worth $11,647,000 after buying an additional 41,902 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MDT shares. Leerink Partners initiated coverage on Medtronic in a research note on Monday, June 16th. They set an “outperform” rating and a $110.00 price objective on the stock. Royal Bank Of Canada dropped their price target on shares of Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. Robert W. Baird reduced their price objective on shares of Medtronic from $94.00 to $92.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Friday, June 6th. Finally, Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and an average target price of $97.87.

Medtronic Stock Performance

NYSE:MDT opened at $86.41 on Friday. The company has a market capitalization of $110.83 billion, a P/E ratio of 23.87, a P/E/G ratio of 2.32 and a beta of 0.79. The business has a fifty day simple moving average of $84.74 and a two-hundred day simple moving average of $86.31. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. Medtronic PLC has a 1 year low of $75.96 and a 1 year high of $96.25.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.04. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. During the same quarter in the prior year, the company earned $1.46 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, analysts expect that Medtronic PLC will post 5.46 earnings per share for the current 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 paid a $0.71 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.84 annualized dividend and a dividend yield of 3.29%. Medtronic’s dividend payout ratio (DPR) is presently 77.35%.

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.