ICA Group Wealth Management LLC Sells 137 Shares of Medtronic plc (NYSE:MDT)

ICA Group Wealth Management LLC decreased its position in shares of Medtronic plc (NYSE:MDT) by 29.3% during the second quarter, Holdings Channel reports. The institutional investor owned 331 shares of the medical technology company’s stock after selling 137 shares during the period. ICA Group Wealth Management LLC’s holdings in Medtronic were worth $26,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Boyar Asset Management Inc. boosted its stake in shares of Medtronic by 2.6% in the fourth quarter. Boyar Asset Management Inc. now owns 4,655 shares of the medical technology company’s stock worth $383,000 after acquiring an additional 120 shares during the period. Quent Capital LLC boosted 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 worth $146,000 after purchasing an additional 125 shares during the period. Abbrea Capital LLC grew its holdings in Medtronic by 2.5% during the 1st quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock valued at $446,000 after buying an additional 125 shares in the last quarter. Waterway Wealth Management LLC raised its position in shares of Medtronic by 4.8% during the second quarter. Waterway Wealth Management LLC now owns 2,759 shares of the medical technology company’s stock valued at $217,000 after buying an additional 126 shares during the last quarter. Finally, Angeles Investment Advisors LLC lifted its holdings in shares of Medtronic by 1.0% in the fourth quarter. Angeles Investment Advisors LLC now owns 12,627 shares of the medical technology company’s stock worth $1,046,000 after buying an additional 128 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.1 %

NYSE MDT opened at $90.11 on Tuesday. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $91.49. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The company has a fifty day moving average of $83.86 and a two-hundred day moving average of $82.84. The firm has a market capitalization of $115.55 billion, a price-to-earnings ratio of 32.77, a PEG ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The business had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. During the same quarter in the previous year, the business earned $1.20 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. Medtronic’s dividend payout ratio (DPR) is 101.82%.

Analyst Ratings Changes

A number of analysts have issued reports on MDT shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a report on Wednesday, August 21st. Robert W. Baird boosted their target price on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. The Goldman Sachs Group assumed coverage on Medtronic in a report on Thursday, May 30th. They set a “sell” rating and a $83.00 price target for the company. Stifel Nicolaus upped their price objective on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $92.92.

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.