Trilogy Capital Inc. Reduces Position in Medtronic plc (NYSE:MDT)

Trilogy Capital Inc. cut its holdings in shares of Medtronic plc (NYSE:MDT) by 8.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,495 shares of the medical technology company’s stock after selling 225 shares during the period. Trilogy Capital Inc.’s holdings in Medtronic were worth $217,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MDT. Fortitude Family Office LLC purchased a new stake in shares of Medtronic during the fourth quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. boosted its position in shares of Medtronic by 293.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock valued at $26,000 after buying an additional 236,064 shares during the last quarter. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Medtronic during the fourth quarter valued at $27,000. Financial Gravity Asset Management Inc. lifted its holdings in Medtronic by 317.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 279 shares during the period. Finally, Fortis Group Advisors LLC lifted its holdings in Medtronic by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock valued at $38,000 after acquiring an additional 230 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Medtronic

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

Medtronic Price Performance

MDT traded up $0.08 on Friday, hitting $78.71. 8,917,219 shares of the company’s stock traded hands, compared to its average volume of 6,371,193. The company’s 50 day simple moving average is $81.85 and its 200-day simple moving average is $83.52. The firm has a market cap of $100.93 billion, a price-to-earnings ratio of 28.62, a P/E/G ratio of 2.29 and a beta of 0.83. Medtronic plc has a one year low of $68.84 and a one year high of $91.00. The company has a current ratio of 2.03, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47.

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

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.56%. The ex-dividend date is Friday, June 28th. This is an increase from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s dividend payout ratio (DPR) is 100.36%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MDT. The Goldman Sachs Group began coverage on Medtronic in a report on Thursday, May 30th. They issued a “sell” rating and a $83.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Friday, May 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a report on Wednesday, June 5th. Wells Fargo & Company increased their target price on Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Finally, UBS Group increased their target price on Medtronic from $75.00 to $76.00 and gave the company a “sell” rating in a report on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock 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.