First Citizens Financial Corp Sells 200 Shares of Medtronic plc (NYSE:MDT)

First Citizens Financial Corp reduced its stake in Medtronic plc (NYSE:MDT) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,676 shares of the medical technology company’s stock after selling 200 shares during the period. First Citizens Financial Corp’s holdings in Medtronic were worth $214,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fortitude Family Office LLC purchased a new stake in Medtronic in the third quarter worth $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic during the 3rd quarter valued at $27,000. Darwin Wealth Management LLC purchased a new stake in shares of Medtronic in the 3rd quarter worth about $27,000. J. Stern & Co. LLP bought a new position in shares of Medtronic in the 3rd quarter worth about $30,000. Finally, Chelsea Counsel Co. purchased a new position in Medtronic during the 3rd quarter valued at about $45,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on MDT. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Truist Financial lowered their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Evercore ISI raised their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Sanford C. Bernstein upped their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Medtronic has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Stock Up 0.5 %

NYSE MDT traded up $0.37 during trading on Friday, reaching $80.59. 1,298,436 shares of the company’s stock traded hands, compared to its average volume of 3,383,137. The firm has a market cap of $103.34 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68. The company’s 50 day simple moving average is $85.08 and its two-hundred day simple moving average is $84.85.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the previous year, the firm earned $1.25 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be issued a $0.70 dividend. The ex-dividend date is Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.47%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

About Medtronic

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.