FinTrust Capital Advisors LLC reduced its holdings in Medtronic PLC (NYSE:MDT) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,072 shares of the medical technology company’s stock after selling 242 shares during the quarter. FinTrust Capital Advisors LLC’s holdings in Medtronic were worth $591,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. Cornerstone Advisors Inc. grew its position in Medtronic by 8.1% during the second quarter. Cornerstone Advisors Inc. now owns 1,621 shares of the medical technology company’s stock worth $158,000 after buying an additional 122 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake in Medtronic by 3.1% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 4,129 shares of the medical technology company’s stock worth $376,000 after purchasing an additional 126 shares during the period. Hanson & Doremus Investment Management lifted its stake in Medtronic by 0.9% during the first quarter. Hanson & Doremus Investment Management now owns 14,416 shares of the medical technology company’s stock worth $1,313,000 after purchasing an additional 128 shares during the period. Parkside Financial Bank & Trust lifted its stake in Medtronic by 9.8% during the first quarter. Parkside Financial Bank & Trust now owns 1,432 shares of the medical technology company’s stock worth $131,000 after purchasing an additional 128 shares during the period. Finally, Merit Financial Group LLC lifted its stake in Medtronic by 3.4% during the first quarter. Merit Financial Group LLC now owns 4,182 shares of the medical technology company’s stock worth $380,000 after purchasing an additional 136 shares during the period. 80.65% of the stock is currently owned by institutional investors.

Shares of NYSE:MDT traded up $0.61 during trading on Thursday, reaching $101.54. The stock had a trading volume of 147,250 shares, compared to its average volume of 4,206,267. Medtronic PLC has a 52 week low of $81.66 and a 52 week high of $103.95. The firm has a 50-day simple moving average of $100.37. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.59 and a quick ratio of 2.15. The company has a market cap of $135.66 billion, a PE ratio of 19.47, a PEG ratio of 2.59 and a beta of 0.67.

Medtronic (NYSE:MDT) last posted its earnings results on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.07. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The company had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.12 billion. During the same quarter in the previous year, the company posted $1.42 earnings per share. Medtronic’s quarterly revenue was up .0% compared to the same quarter last year. Equities research analysts anticipate that Medtronic PLC will post 5.48 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 8th were paid a $0.54 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.13%. This is a boost from Medtronic’s previous quarterly dividend of $0.50. Medtronic’s payout ratio is 41.38%.

A number of research analysts have commented on MDT shares. Wells Fargo & Co upgraded shares of Medtronic from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $100.00 to $110.00 in a research note on Tuesday, June 4th. Royal Bank of Canada cut their price target on shares of Medtronic to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Cowen restated an “outperform” rating and set a $111.00 price target (up previously from $99.00) on shares of Medtronic in a research note on Wednesday. Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a research note on Monday, May 20th. Finally, Barclays raised their price target on shares of Medtronic from $104.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Medtronic presently has a consensus rating of “Buy” and a consensus price target of $106.41.

In related news, SVP Bradley E. Lerman sold 6,599 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $102.02, for a total value of $673,229.98. Following the completion of the sale, the senior vice president now owns 105,960 shares of the company’s stock, valued at $10,810,039.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Richard Kuntz sold 3,438 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $101.12, for a total transaction of $347,650.56. The disclosure for this sale can be found here. Insiders sold 95,701 shares of company stock valued at $9,318,744 in the last quarter. 0.28% of the stock is currently owned by corporate insiders.

Medtronic Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

Featured Story: What does a bar chart display?

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:MDT).

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.