Signaturefd LLC Has $1.09 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Signaturefd LLC trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 2.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,456 shares of the medical technology company’s stock after selling 309 shares during the period. Signaturefd LLC’s holdings in Medtronic were worth $1,086,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Boyar Asset Management Inc. lifted its stake in Medtronic by 2.6% in the 4th quarter. Boyar Asset Management Inc. now owns 4,655 shares of the medical technology company’s stock valued at $383,000 after purchasing an additional 120 shares during the last quarter. Hall Laurie J Trustee lifted its stake in Medtronic by 0.3% in the 1st quarter. Hall Laurie J Trustee now owns 44,015 shares of the medical technology company’s stock valued at $3,835,000 after purchasing an additional 125 shares during the last quarter. Quent Capital LLC lifted its stake in Medtronic by 8.0% in the 1st quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock valued at $146,000 after purchasing an additional 125 shares during the last quarter. Marino Stram & Associates LLC lifted its stake in Medtronic by 1.8% in the 4th quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock valued at $587,000 after purchasing an additional 126 shares during the last quarter. Finally, Angeles Investment Advisors LLC lifted its stake in Medtronic by 1.0% in the 4th quarter. Angeles Investment Advisors LLC now owns 12,627 shares of the medical technology company’s stock valued at $1,046,000 after purchasing an additional 128 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of MDT stock opened at $78.05 on Friday. The stock has a market capitalization of $100.08 billion, a P/E ratio of 28.38, a PEG ratio of 2.25 and a beta of 0.82. The company has a current ratio of 2.03, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $81.28 and its 200 day moving average is $83.20. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $91.00.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.01. The company had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.44 billion. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. Medtronic’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.57 EPS. On average, sell-side analysts anticipate that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a dividend of $0.70 per share. This is a boost from Medtronic’s previous quarterly dividend of $0.69. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Friday, June 28th. Medtronic’s dividend payout ratio is presently 101.82%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a research note on Wednesday, June 5th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Friday, May 24th. Citigroup lowered their price target on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday. UBS Group increased their price target on shares of Medtronic from $75.00 to $76.00 and gave the company a “sell” rating in a report on Friday, May 24th. Finally, The Goldman Sachs Group started coverage on shares of Medtronic in a report on Thursday, May 30th. They issued a “sell” rating and a $83.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and an average target price of $91.09.

Insider Activity at Medtronic

In related news, CEO Geoffrey Martha sold 19,113 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the sale, the chief executive officer now directly owns 143,348 shares in the company, valued at approximately $12,008,261.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is currently owned by corporate insiders.

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.