Forum Financial Management LP Sells 909 Shares of Medtronic plc (NYSE:MDT)

Forum Financial Management LP trimmed its holdings in shares of Medtronic plc (NYSE:MDTGet Rating) by 9.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,674 shares of the medical technology company’s stock after selling 909 shares during the period. Forum Financial Management LP’s holdings in Medtronic were worth $962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MDT. Mascoma Wealth Management LLC boosted its holdings in shares of Medtronic by 41.7% in the 1st quarter. Mascoma Wealth Management LLC now owns 394 shares of the medical technology company’s stock valued at $44,000 after buying an additional 116 shares in the last quarter. Baker Tilly Wealth Management LLC boosted its holdings in shares of Medtronic by 26.2% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 22,774 shares of the medical technology company’s stock valued at $2,527,000 after buying an additional 4,725 shares in the last quarter. Dakota Wealth Management boosted its holdings in shares of Medtronic by 167.6% in the 1st quarter. Dakota Wealth Management now owns 6,211 shares of the medical technology company’s stock valued at $690,000 after buying an additional 3,890 shares in the last quarter. 180 Wealth Advisors LLC boosted its holdings in shares of Medtronic by 3.2% in the 1st quarter. 180 Wealth Advisors LLC now owns 24,492 shares of the medical technology company’s stock valued at $2,700,000 after buying an additional 760 shares in the last quarter. Finally, InTrack Investment Management Inc bought a new stake in shares of Medtronic in the 1st quarter valued at about $346,000. 79.81% of the stock is currently owned by institutional investors.

Medtronic Price Performance

NYSE:MDT opened at $92.06 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.58 and a quick ratio of 1.23. The firm has a market cap of $122.36 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 2.37 and a beta of 0.75. The company has a 50 day moving average price of $90.94 and a 200-day moving average price of $98.63. Medtronic plc has a 1-year low of $85.66 and a 1-year high of $132.58.

Medtronic (NYSE:MDTGet Rating) last posted its earnings results on Tuesday, August 23rd. The medical technology company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.01. Medtronic had a net margin of 16.75% and a return on equity of 13.64%. During the same quarter last year, the business posted $1.41 earnings per share. Equities research analysts forecast that Medtronic plc will post 5.53 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 23rd will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Thursday, September 22nd. Medtronic’s dividend payout ratio (DPR) is 70.28%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MDT shares. Truist Financial lowered their price target on shares of Medtronic from $111.00 to $97.00 and set a “hold” rating on the stock in a report on Wednesday, July 20th. Raymond James cut shares of Medtronic from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 24th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Medtronic from $149.00 to $121.00 in a research note on Friday, May 27th. Sanford C. Bernstein reiterated a “buy” rating and issued a $122.00 target price on shares of Medtronic in a research note on Friday, May 20th. Finally, Cowen set a $125.00 target price on shares of Medtronic and gave the stock an “outperform” rating in a research note on Monday, May 23rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $111.52.

About Medtronic

(Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic plc (NYSE:MDTGet Rating).

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.