TFC Financial Management Inc. Has $132,000 Holdings in Medtronic PLC (NYSE:MDT)

TFC Financial Management Inc. trimmed its position in Medtronic PLC (NYSE:MDT) by 9.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,469 shares of the medical technology company’s stock after selling 145 shares during the period. TFC Financial Management Inc.’s holdings in Medtronic were worth $132,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Mainstream Capital Management LLC acquired a new stake in shares of Medtronic during the fourth quarter valued at about $26,000. Burkett Financial Services LLC raised its holdings 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 buying an additional 185 shares during the last quarter. Rakuten Securities Inc. raised its holdings 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 buying an additional 294 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new stake in Medtronic during the 4th quarter worth approximately $27,000. Finally, Optiver Holding B.V. bought a new stake in Medtronic during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

Medtronic stock opened at $86.41 on Friday. The stock has a market capitalization of $110.83 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 2.32 and a beta of 0.79. Medtronic PLC has a 52-week low of $75.96 and a 52-week high of $96.25. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. The stock’s 50 day moving average price is $84.74 and its two-hundred day moving average price is $86.31.

Medtronic (NYSE:MDT) last issued its 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. The business had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. Medtronic’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 earnings per share. On average, equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders 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 annualized dividend and a dividend yield of 3.29%. Medtronic’s dividend payout ratio (DPR) is currently 77.35%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MDT shares. Leerink Partnrs raised shares of Medtronic to a “strong-buy” rating in a research note on Monday, June 16th. Royal Bank Of Canada lowered their target price on Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a research report on Thursday, May 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Friday, June 6th. Robert W. Baird decreased their price target on Medtronic from $94.00 to $92.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Finally, Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, June 21st. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.87.

Medtronic Company Profile

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.