Valtinson Bruner Financial Planning LLC Sells 1,161 Shares of Medtronic plc (NYSE:MDT)

Valtinson Bruner Financial Planning LLC trimmed its position in Medtronic plc (NYSE:MDT) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,963 shares of the medical technology company’s stock after selling 1,161 shares during the quarter. Valtinson Bruner Financial Planning LLC’s holdings in Medtronic were worth $1,965,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. LifeSteps Financial Inc. acquired a new stake in shares of Medtronic in the 1st quarter valued at approximately $27,000. Lynx Investment Advisory bought a new position in Medtronic in the 2nd quarter valued at approximately $28,000. Tributary Capital Management LLC acquired a new stake in Medtronic in the first quarter valued at approximately $33,000. Riverview Trust Co bought a new stake in shares of Medtronic during the first quarter worth $39,000. Finally, Fortis Group Advisors LLC increased its holdings in shares of Medtronic by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock worth $38,000 after buying an additional 230 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Barclays upped their target price on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Citigroup cut their target price on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Tuesday, August 20th. Wells Fargo & Company lifted their price target on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, The Goldman Sachs Group started coverage on Medtronic in a report on Thursday, May 30th. They issued a “sell” rating and a $83.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $92.92.

Medtronic Stock Performance

NYSE:MDT opened at $89.89 on Friday. The firm has a market capitalization of $115.26 billion, a P/E ratio of 32.69, a P/E/G ratio of 2.52 and a beta of 0.84. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $91.49. The company has a fifty day moving average of $82.29 and a 200-day moving average of $82.62. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The company had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The business’s revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Friday, September 27th. Medtronic’s dividend payout ratio is currently 101.82%.

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.