Global Trust Asset Management LLC Has $265,000 Stake in Medtronic plc (NYSE:MDT)

Global Trust Asset Management LLC decreased its holdings in Medtronic plc (NYSE:MDT) by 11.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 2,948 shares of the medical technology company’s stock after selling 394 shares during the period. Global Trust Asset Management LLC’s holdings in Medtronic were worth $265,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mainstream Capital Management LLC acquired a new stake in Medtronic in the 4th quarter worth about $26,000. Burkett Financial Services LLC increased its holdings in Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after buying an additional 185 shares during the period. Rakuten Securities Inc. increased its holdings in Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after buying an additional 294 shares during the period. Wood Tarver Financial Group LLC bought a new position in Medtronic in the 4th quarter valued at about $27,000. Finally, Optiver Holding B.V. bought a new position in Medtronic in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the topic of several recent analyst reports. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and raised their target price for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Friday, June 6th. UBS Group raised their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Robert W. Baird decreased their target price on shares of Medtronic from $94.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.87.

Medtronic Trading Up 0.7%

MDT stock opened at $87.92 on Tuesday. The company has a market capitalization of $112.76 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The company’s 50 day moving average price is $84.33 and its two-hundred day moving average price is $86.27. 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 (NYSE:MDT) last announced its earnings results 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. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.81 billion. During the same quarter in the previous year, the business posted $1.46 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Friday, June 27th. This is a boost from Medtronic’s previous quarterly dividend of $0.70. Medtronic’s payout ratio is 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.