Berger Financial Group Inc Sells 444 Shares of Medtronic PLC (NYSE:MDT)

Berger Financial Group Inc trimmed its holdings in Medtronic PLC (NYSE:MDT) by 2.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 19,956 shares of the medical technology company’s stock after selling 444 shares during the quarter. Berger Financial Group Inc’s holdings in Medtronic were worth $1,793,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Brighton Jones LLC grew its stake in shares of Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after purchasing an additional 37,265 shares during the period. FMR LLC grew its stake in shares of Medtronic by 14.4% during the 4th quarter. FMR LLC now owns 2,104,985 shares of the medical technology company’s stock valued at $168,146,000 after purchasing an additional 265,416 shares during the period. FIL Ltd grew its stake in shares of Medtronic by 16.0% during 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 during the period. Phoenix Financial Ltd. grew its stake in shares of Medtronic by 5.8% during the 4th quarter. Phoenix Financial Ltd. now owns 5,014 shares of the medical technology company’s stock valued at $403,000 after purchasing an additional 277 shares during the period. Finally, Petros Family Wealth LLC bought a new stake in shares of Medtronic during the 4th quarter valued at about $238,000. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Robert W. Baird cut their price target on Medtronic from $94.00 to $92.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Leerink Partnrs upgraded Medtronic to a “strong-buy” rating in a research note on Monday, June 16th. William Blair upgraded Medtronic to a “hold” rating in a research note on Friday, July 11th. Royal Bank Of Canada cut their price objective on Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a research note on Thursday, May 22nd. Finally, Wolfe Research upgraded Medtronic from an “underperform” rating to a “peer perform” rating in a research note on Monday, June 30th. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.19.

Medtronic Stock Up 1.9%

NYSE MDT opened at $92.94 on Friday. The stock’s 50 day moving average is $88.65 and its 200 day moving average is $87.93. The company has a current ratio of 1.85, a quick ratio of 1.42 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 stock has a market cap of $119.13 billion, a PE ratio of 25.67, a P/E/G ratio of 2.41 and a beta of 0.80.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.04. The company had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 EPS. Research analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were issued a dividend of $0.71 per share. This is a positive change 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 3.1%. Medtronic’s payout ratio is currently 78.45%.

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.