Greenleaf Trust Buys 1,174 Shares of Medtronic plc (NYSE:MDT)

Greenleaf Trust lifted its position in Medtronic plc (NYSE:MDT) by 9.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,095 shares of the medical technology company’s stock after buying an additional 1,174 shares during the quarter. Greenleaf Trust’s holdings in Medtronic were worth $1,126,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MDT. Fortitude Family Office LLC bought a new position in shares of Medtronic in the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC bought a new position in Medtronic during the third quarter worth about $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic during the third quarter worth approximately $27,000. J. Stern & Co. LLP bought a new stake in Medtronic in the third quarter valued at approximately $30,000. Finally, Fiduciary Advisors Inc. acquired a new stake in shares of Medtronic in the fourth quarter valued at approximately $36,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Price Performance

Shares of NYSE:MDT opened at $90.55 on Tuesday. 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 stock has a market capitalization of $116.11 billion, a PE ratio of 27.69, a PEG ratio of 2.57 and a beta of 0.84. The firm has a 50 day moving average of $84.38 and a 200-day moving average of $86.09. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the prior year, the company earned $1.25 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities research analysts predict that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.09%. Medtronic’s payout ratio is currently 85.63%.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Truist Financial dropped their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Robert W. Baird dropped their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Finally, Sanford C. Bernstein upped their target price on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic 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.