Stock Yards Bank & Trust Co. Has $924,000 Stock Holdings in Medtronic plc (NYSE:MDT)

Stock Yards Bank & Trust Co. reduced its position in shares of Medtronic plc (NYSE:MDT) by 20.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,569 shares of the medical technology company’s stock after selling 2,891 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Medtronic were worth $924,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in shares of Medtronic during the third quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic during the third quarter valued at about $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic in the 3rd quarter worth about $27,000. J. Stern & Co. LLP bought a new position in Medtronic in the 3rd quarter valued at about $30,000. Finally, Fiduciary Advisors Inc. acquired a new position in Medtronic during the 4th quarter valued at about $36,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Truist Financial lowered their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Wells Fargo & Company cut their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Sanford C. Bernstein upped their target price 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, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $95.00.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’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 completion of the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

Medtronic Stock Down 0.3 %

MDT stock opened at $90.55 on Tuesday. The stock has a market capitalization of $116.11 billion, a P/E ratio of 27.69, a P/E/G ratio of 2.57 and a beta of 0.84. 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 1-year low of $75.96 and a 1-year high of $93.08. The business has a fifty day moving average price of $84.38 and a 200-day moving average price of $86.09.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating 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 business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period in the previous year, the business earned $1.25 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities analysts forecast that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio 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.