Cypress Wealth Services LLC lessened its holdings in shares of Medtronic plc (NYSE:MDT) by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,788 shares of the medical technology company’s stock after selling 131 shares during the period. Cypress Wealth Services LLC’s holdings in Medtronic were worth $447,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vantage Consulting Group Inc acquired a new position in Medtronic in the fourth quarter valued at $26,000. Concord Wealth Partners acquired a new position in Medtronic in the fourth quarter valued at $26,000. Safeguard Investment Advisory Group LLC acquired a new position in Medtronic in the fourth quarter valued at $26,000. JCIC Asset Management Inc. lifted its holdings in Medtronic by 335.2% in the fourth quarter. JCIC Asset Management Inc. now owns 235 shares of the medical technology company’s stock valued at $28,000 after buying an additional 181 shares during the period. Finally, Diversified LLC acquired a new position in Medtronic in the fourth quarter valued at $25,000. Institutional investors and hedge funds own 79.17% of the company’s stock.

Shares of MDT stock opened at $131.20 on Tuesday. Medtronic plc has a 52-week low of $87.68 and a 52-week high of $132.30. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.79 and a current ratio of 2.16. The company has a 50-day simple moving average of $122.77 and a two-hundred day simple moving average of $116.16. The company has a market capitalization of $176.87 billion, a price-to-earnings ratio of 50.08, a PEG ratio of 3.65 and a beta of 0.70.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 23rd. The medical technology company reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.14. Medtronic had a net margin of 12.69% and a return on equity of 9.71%. The business had revenue of $7.78 billion during the quarter, compared to the consensus estimate of $7.77 billion. During the same period in the prior year, the firm posted $1.44 EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, sell-side analysts forecast that Medtronic plc will post 4.21 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 16th. Shareholders of record on Friday, March 26th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Thursday, March 25th. Medtronic’s payout ratio is 50.54%.

Several equities analysts recently issued reports on MDT shares. Credit Suisse Group boosted their target price on shares of Medtronic from $126.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, March 3rd. Stifel Nicolaus upped their price objective on shares of Medtronic from $132.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, March 2nd. Cowen upped their price objective on shares of Medtronic from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, February 24th. Raymond James upped their price objective on shares of Medtronic from $122.00 to $128.00 and gave the company an “outperform” rating in a report on Wednesday, March 3rd. Finally, Atlantic Securities initiated coverage on shares of Medtronic in a report on Wednesday, April 21st. They set an “overweight” rating and a $153.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Medtronic has a consensus rating of “Buy” and a consensus target price of $124.30.

Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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