Csenge Advisory Group Decreases Stake in Medtronic PLC (NYSE:MDT)

Csenge Advisory Group trimmed its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 40.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,683 shares of the medical technology company's stock after selling 5,171 shares during the quarter. Csenge Advisory Group's holdings in Medtronic were worth $635,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC boosted its stake in shares of Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after acquiring an additional 185 shares in the last quarter. Columbia River Financial Group LLC bought a new position in Medtronic during the first quarter valued at about $28,000. Wood Tarver Financial Group LLC bought a new position in Medtronic during the fourth quarter valued at about $27,000. Hughes Financial Services LLC bought a new position in Medtronic during the first quarter valued at about $32,000. Finally, Optiver Holding B.V. acquired a new stake in Medtronic during the fourth quarter valued at approximately $31,000. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

MDT traded down $0.25 during trading on Thursday, hitting $91.76. 1,660,556 shares of the stock traded hands, compared to its average volume of 7,738,857. Medtronic PLC has a twelve month low of $78.32 and a twelve month high of $96.25. The company has a market cap of $117.69 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 2.38 and a beta of 0.80. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The business has a 50 day moving average price of $86.78 and a 200 day moving average price of $87.35.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.04. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. During the same period in the prior year, the business earned $1.46 earnings per share. The company's revenue for the quarter was up 3.9% compared to the same quarter last year. Equities research analysts forecast that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Friday, June 27th. This is a boost from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio is 78.45%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley reaffirmed an "overweight" rating and set a $107.00 price objective (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Royal Bank Of Canada reduced their target price on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Mizuho boosted their price objective on shares of Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Finally, Citigroup boosted their price objective on shares of Medtronic from $98.00 to $99.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Eleven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $98.19.

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.