Aspiriant LLC Sells 380 Shares of Medtronic plc (NYSE:MDT)

Aspiriant LLC lowered its position in Medtronic plc (NYSE:MDT) by 12.8% in the 1st quarter, HoldingsChannel reports. The fund owned 2,592 shares of the medical technology company’s stock after selling 380 shares during the period. Aspiriant LLC’s holdings in Medtronic were worth $226,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new stake in Medtronic during the 1st quarter valued at $152,000. Sunbelt Securities Inc. grew its position in shares of Medtronic by 124.9% in the first quarter. Sunbelt Securities Inc. now owns 3,128 shares of the medical technology company’s stock valued at $273,000 after purchasing an additional 1,737 shares in the last quarter. IAM Advisory LLC bought a new stake in shares of Medtronic during the 1st quarter valued at $202,000. Mcdonald Partners LLC grew its stake in Medtronic by 1.5% during the first quarter. Mcdonald Partners LLC now owns 11,188 shares of the medical technology company’s stock valued at $975,000 after acquiring an additional 167 shares in the last quarter. Finally, F&V Capital Management LLC raised its position in shares of Medtronic by 1.2% in the first quarter. F&V Capital Management LLC now owns 167,080 shares of the medical technology company’s stock worth $14,561,000 after buying an additional 2,000 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Price Performance

MDT opened at $80.05 on Thursday. The stock’s 50 day moving average price is $81.85 and its 200-day moving average price is $83.56. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $91.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.03. The stock has a market capitalization of $102.65 billion, a PE ratio of 29.11, a price-to-earnings-growth ratio of 2.34 and a beta of 0.83.

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

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders 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. The ex-dividend date is Friday, June 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.50%. Medtronic’s payout ratio is presently 100.36%.

Insiders Place Their Bets

In related news, CEO Geoffrey Martha sold 19,113 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $83.77, for a total value of $1,601,096.01. Following the transaction, the chief executive officer now owns 143,348 shares in the company, valued at approximately $12,008,261.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Michael Marinaro sold 854 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Geoffrey Martha sold 19,113 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 143,348 shares in the company, valued at approximately $12,008,261.96. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MDT shares. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Friday, May 24th. Truist Financial dropped their price target on Medtronic from $90.00 to $88.00 and set a “hold” rating for the company in a research note on Friday, May 24th. Wells Fargo & Company lifted their price target on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. UBS Group upped their price objective on shares of Medtronic from $75.00 to $76.00 and gave the company a “sell” rating in a research note on Friday, May 24th. Finally, The Goldman Sachs Group assumed coverage on shares of Medtronic in a research report on Thursday, May 30th. They issued a “sell” rating and a $83.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $93.00.

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.