Empower Advisory Group LLC Sells 199 Shares of Medtronic PLC (NYSE:MDT)

Empower Advisory Group LLC lowered its position in shares of Medtronic PLC (NYSE:MDT) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,248 shares of the medical technology company’s stock after selling 199 shares during the period. Empower Advisory Group LLC’s holdings in Medtronic were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Brighton Jones LLC grew its position in Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after buying an additional 37,265 shares in the last quarter. FMR LLC grew its position in Medtronic by 14.4% during the fourth quarter. FMR LLC now owns 2,104,985 shares of the medical technology company’s stock worth $168,146,000 after buying an additional 265,416 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Medtronic by 6.0% in the 4th quarter. Cerity Partners LLC now owns 257,968 shares of the medical technology company’s stock valued at $22,003,000 after purchasing an additional 14,660 shares in the last quarter. FIL Ltd boosted its holdings in shares of Medtronic by 16.0% in the 4th quarter. FIL Ltd now owns 5,414 shares of the medical technology company’s stock valued at $432,000 after purchasing an additional 748 shares in the last quarter. Finally, APG Asset Management N.V. acquired a new stake in shares of Medtronic in the 4th quarter valued at $54,423,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 0.4%

Shares of NYSE:MDT opened at $89.35 on Thursday. The firm has a market cap of $114.59 billion, a P/E ratio of 24.68, a P/E/G ratio of 2.33 and a beta of 0.80. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. Medtronic PLC has a 12-month low of $79.29 and a 12-month high of $96.25. The business has a fifty day simple moving average of $88.28 and a 200 day simple moving average of $87.88.

Medtronic (NYSE:MDT) last posted its quarterly earnings data 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 firm had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. During the same period last year, the company posted $1.46 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were given a $0.71 dividend. This is a boost 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 annualized dividend and a dividend yield of 3.2%. Medtronic’s dividend payout ratio is 78.45%.

Analyst Ratings Changes

MDT has been the topic of a number of research analyst reports. BTIG Research reaffirmed a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Friday, June 6th. Leerink Partners initiated coverage on Medtronic in a report on Monday, June 16th. They issued an “outperform” rating and a $110.00 target price on the stock. Evercore ISI raised their target price on Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Finally, Wolfe Research raised Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Eleven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $98.19.

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.