Peoples Bank KS Lowers Stock Position in Medtronic plc (NYSE:MDT)

Peoples Bank KS reduced its position in Medtronic plc (NYSE:MDT) by 10.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,374 shares of the medical technology company’s stock after selling 1,240 shares during the quarter. Peoples Bank KS’s holdings in Medtronic were worth $829,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in shares of Medtronic during the 3rd quarter worth about $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic in the third quarter worth $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic in the third quarter worth $27,000. J. Stern & Co. LLP purchased a new position in shares of Medtronic in the 3rd quarter valued at $30,000. Finally, Chelsea Counsel Co. acquired a new position in shares of Medtronic during the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of MDT opened at $79.82 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The firm has a market cap of $102.35 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 2.33 and a beta of 0.83. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The stock has a 50 day moving average of $84.46 and a 200-day moving average of $84.92.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 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 during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, analysts forecast that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.51%. Medtronic’s payout ratio is currently 85.63%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MDT. Wells Fargo & Company lowered their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Robert W. Baird decreased their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Medtronic has a consensus rating of “Hold” and an average target price of $95.00.

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.