Silvercrest Asset Management Group LLC Decreases Position in Medtronic plc (NYSE:MDT)

Silvercrest Asset Management Group LLC trimmed its position in shares of Medtronic plc (NYSE:MDT) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,700 shares of the medical technology company’s stock after selling 623 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Medtronic were worth $1,414,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its stake in shares of Medtronic by 3.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 60,400 shares of the medical technology company’s stock valued at $4,825,000 after acquiring an additional 1,926 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Medtronic during the fourth quarter valued at $280,000. Merit Financial Group LLC boosted its stake in shares of Medtronic by 327.8% during the fourth quarter. Merit Financial Group LLC now owns 23,270 shares of the medical technology company’s stock valued at $1,859,000 after acquiring an additional 17,831 shares during the last quarter. Addenda Capital Inc. boosted its stake in shares of Medtronic by 25.3% during the fourth quarter. Addenda Capital Inc. now owns 81,611 shares of the medical technology company’s stock valued at $6,564,000 after acquiring an additional 16,471 shares during the last quarter. Finally, Ballentine Partners LLC boosted its stake in shares of Medtronic by 24.6% during the fourth quarter. Ballentine Partners LLC now owns 16,287 shares of the medical technology company’s stock valued at $1,301,000 after acquiring an additional 3,215 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Price Performance

MDT stock opened at $86.19 on Wednesday. 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 1 year low of $75.96 and a 1 year high of $96.25. The firm has a market cap of $110.54 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The stock has a 50-day simple moving average of $85.71 and a 200-day simple moving average of $86.57.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. On average, equities analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.25%. Medtronic’s dividend payout ratio (DPR) is currently 85.11%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MDT shares. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and increased their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. UBS Group increased their target price on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Robert W. Baird increased their target price on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Monday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Medtronic presently has an average rating of “Hold” and an average price target of $96.14.

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.