GPS Wealth Strategies Group LLC Decreases Position in Medtronic plc (NYSE:MDT)

GPS Wealth Strategies Group LLC trimmed its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 42.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,348 shares of the medical technology company's stock after selling 3,161 shares during the quarter. GPS Wealth Strategies Group LLC's holdings in Medtronic were worth $391,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MDT. Burkett Financial Services LLC raised its position in Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after purchasing an additional 185 shares in the last quarter. Mainstream Capital Management LLC acquired a new stake in Medtronic in the 4th quarter valued at about $26,000. Rakuten Securities Inc. raised its position in Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 294 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new stake in Medtronic in the 4th quarter valued at about $27,000. Finally, Optiver Holding B.V. acquired a new stake in Medtronic in the 4th quarter valued at about $31,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Performance

MDT traded down $1.30 during trading on Friday, hitting $87.19. 6,008,318 shares of the stock were exchanged, compared to its average volume of 6,886,057. The firm has a market capitalization of $111.83 billion, a P/E ratio of 26.50, a PEG ratio of 2.22 and a beta of 0.79. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The stock has a fifty day moving average price of $84.21 and a two-hundred day moving average price of $86.26. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.04. The business had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 earnings per share. As a group, sell-side analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 27th. This is an increase from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.26%. Medtronic's payout ratio is 78.45%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wall Street Zen lowered Medtronic from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. UBS Group increased their price target on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Friday, June 6th. Royal Bank of Canada cut their target price on Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Finally, Robert W. Baird cut their target price on Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.00.

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.