Medtronic PLC (NYSE:MDT) Shares Sold by Wellington Shields & Co. LLC

Wellington Shields & Co. LLC trimmed its stake in shares of Medtronic PLC (NYSE:MDT) by 25.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,375 shares of the medical technology company’s stock after selling 3,600 shares during the period. Wellington Shields & Co. LLC’s holdings in Medtronic were worth $932,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Woodley Farra Manion Portfolio Management Inc. grew its holdings in Medtronic by 4.1% during the first quarter. Woodley Farra Manion Portfolio Management Inc. now owns 44,166 shares of the medical technology company’s stock worth $3,999,000 after acquiring an additional 1,739 shares during the period. Arkadios Wealth Advisors grew its holdings in Medtronic by 21.3% during the first quarter. Arkadios Wealth Advisors now owns 78,377 shares of the medical technology company’s stock worth $7,043,000 after acquiring an additional 13,753 shares during the period. Eastern Bank grew its holdings in Medtronic by 1.7% during the first quarter. Eastern Bank now owns 21,525 shares of the medical technology company’s stock worth $1,934,000 after acquiring an additional 369 shares during the period. Brucke Financial Inc. grew its holdings in Medtronic by 20.4% during the first quarter. Brucke Financial Inc. now owns 2,657 shares of the medical technology company’s stock worth $225,000 after acquiring an additional 450 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Medtronic during the first quarter worth about $680,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MDT has been the topic of several analyst reports. BTIG Research reaffirmed a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. Wolfe Research upgraded Medtronic from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 30th. Royal Bank Of Canada lowered their price target on Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. Evercore ISI increased their price target on Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Finally, Robert W. Baird lowered their price target on Medtronic from $94.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Eleven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $98.19.

Medtronic Stock Performance

NYSE MDT opened at $92.48 on Wednesday. Medtronic PLC has a 1-year low of $78.96 and a 1-year high of $96.25. The company has a market cap of $118.61 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 2.39 and a beta of 0.80. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The stock’s 50 day simple moving average is $87.26 and its 200-day simple moving average is $87.71.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.04. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The firm had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. During the same quarter last year, the business posted $1.46 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were given a dividend of $0.71 per share. This is an increase from Medtronic’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.07%. Medtronic’s dividend payout ratio (DPR) is presently 78.45%.

Medtronic 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.