Courier Capital LLC Sells 1,053 Shares of Medtronic plc (NYSE:MDT)

Courier Capital LLC cut its position in Medtronic plc (NYSE:MDT) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,056 shares of the medical technology company’s stock after selling 1,053 shares during the quarter. Courier Capital LLC’s holdings in Medtronic were worth $3,869,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of 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 acquiring an additional 37,265 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Medtronic during the fourth quarter worth about $78,000. Apollon Wealth Management LLC raised its position in shares of Medtronic by 0.9% during the fourth quarter. Apollon Wealth Management LLC now owns 42,213 shares of the medical technology company’s stock worth $3,372,000 after acquiring an additional 383 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of Medtronic by 2.3% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 75,060 shares of the medical technology company’s stock worth $5,996,000 after acquiring an additional 1,687 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of Medtronic by 2.7% during the fourth quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company’s stock worth $8,453,000 after acquiring an additional 2,778 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MDT has been the subject of a number of analyst reports. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Friday. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. UBS Group lifted their target price on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Royal Bank of Canada lowered their target price on Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. Finally, Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.00.

Medtronic Trading Up 0.4%

Shares of Medtronic stock opened at $87.38 on Monday. 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 52 week low of $75.96 and a 52 week high of $96.25. The stock has a 50 day moving average price of $83.92 and a two-hundred day moving average price of $86.19. The stock has a market capitalization of $112.07 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.04. The firm had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.81 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.46 earnings per share. As a group, equities analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a dividend of $0.71 per share. This is a boost 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 3.25%. Medtronic’s payout ratio is presently 78.45%.

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.