Delta Asset Management LLC TN Sells 200 Shares of Medtronic plc (NYSE:MDT)

Delta Asset Management LLC TN cut its position in shares of Medtronic plc (NYSE:MDT) by 6.1% during the 1st quarter, HoldingsChannel reports. The firm owned 3,065 shares of the medical technology company’s stock after selling 200 shares during the period. Delta Asset Management LLC TN’s holdings in Medtronic were worth $362,000 as of its most recent SEC filing.

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

Shares of NYSE:MDT 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 stock has a market cap of $176.87 billion, a P/E ratio of 50.08, a price-to-earnings-growth ratio of 3.65 and a beta of 0.70. The business’s 50 day moving average is $122.77 and its 200 day moving average is $116.16. The company has a quick ratio of 1.79, a current ratio of 2.16 and a debt-to-equity ratio of 0.52.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 23rd. The medical technology company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.14. The business had revenue of $7.78 billion for the quarter, compared to analysts’ expectations of $7.77 billion. Medtronic had a return on equity of 9.71% and a net margin of 12.69%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $1.44 EPS. On average, sell-side analysts anticipate 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 given a dividend of $0.58 per share. The ex-dividend date was Thursday, March 25th. This represents a $2.32 annualized dividend and a yield of 1.77%. Medtronic’s dividend payout ratio (DPR) is presently 50.54%.

A number of analysts recently commented on the company. Raymond James upped their price objective on Medtronic from $122.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, March 3rd. SVB Leerink boosted their price target on Medtronic from $123.00 to $129.00 and gave the company a “market perform” rating in a report on Tuesday, March 2nd. Atlantic Securities initiated coverage on Medtronic in a report on Wednesday, April 21st. They set an “overweight” rating and a $153.00 price target for the company. Stifel Nicolaus boosted their price target on Medtronic from $132.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, March 2nd. Finally, Cowen boosted their price target on Medtronic from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, February 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $124.30.

About Medtronic

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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