Archford Capital Strategies LLC Sells 503 Shares of Medtronic PLC (MDT)

Archford Capital Strategies LLC trimmed its holdings in shares of Medtronic PLC (NYSE:MDT) by 3.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,625 shares of the medical technology company’s stock after selling 503 shares during the period. Archford Capital Strategies LLC’s holdings in Medtronic PLC were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in MDT. Waldron LP purchased a new stake in Medtronic PLC during the 1st quarter worth $512,000. Acadian Asset Management LLC acquired a new stake in shares of Medtronic PLC in the 1st quarter valued at about $694,000. Riverbridge Partners LLC raised its stake in shares of Medtronic PLC by 0.5% in the 1st quarter. Riverbridge Partners LLC now owns 245,079 shares of the medical technology company’s stock valued at $19,744,000 after purchasing an additional 1,248 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in shares of Medtronic PLC by 0.6% in the 1st quarter. First Citizens Bank & Trust Co. now owns 11,802 shares of the medical technology company’s stock valued at $951,000 after purchasing an additional 67 shares in the last quarter. Finally, Dock Street Asset Management Inc. acquired a new stake in Medtronic PLC during the first quarter worth about $226,000. 80.75% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Richard H. Anderson acquired 5,600 shares of the stock in a transaction on Wednesday, June 21st. The stock was purchased at an average price of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the transaction, the director now owns 71,910 shares of the company’s stock, valued at approximately $6,392,799. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Bryan C. Hanson sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Several research analysts have commented on MDT shares. Zacks Investment Research cut shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. Evercore ISI restated an “outperform” rating and issued a $91.00 target price (up previously from $88.50) on shares of Medtronic PLC in a research report on Sunday, May 28th. BMO Capital Markets increased their price objective on shares of Medtronic PLC from $87.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, May 30th. Morgan Stanley raised their target price on shares of Medtronic PLC from $84.00 to $86.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 30th. Finally, BidaskClub downgraded shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $88.78.

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Shares of Medtronic PLC (NYSE MDT) traded up 0.11% during mid-day trading on Friday, hitting $81.89. 3,443,968 shares of the stock were exchanged. The stock’s 50 day moving average price is $82.25 and its 200-day moving average price is $83.64. The stock has a market capitalization of $110.93 billion, a P/E ratio of 27.56 and a beta of 1.03. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72.

Medtronic PLC (NYSE:MDT) last issued its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The business had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. Medtronic PLC’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 earnings per share. On average, equities research analysts expect that Medtronic PLC will post $4.77 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be given a $0.46 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.84 annualized dividend and a yield of 2.25%. Medtronic PLC’s payout ratio is currently 61.95%.

About Medtronic PLC

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

Institutional Ownership by Quarter for Medtronic PLC (NYSE:MDT)

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