First National Bank & Trust Co. of Newtown Lowers Position in Medtronic plc (NYSE:MDT)

First National Bank & Trust Co. of Newtown lessened its stake in shares of Medtronic plc (NYSE:MDT) by 14.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 7,473 shares of the medical technology company’s stock after selling 1,298 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in Medtronic were worth $597,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Fortitude Family Office LLC bought a new position in shares of Medtronic during the 3rd quarter valued at approximately $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic during the third quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic during the third quarter valued at approximately $27,000. J. Stern & Co. LLP bought a new position in shares of Medtronic in the third quarter worth approximately $30,000. Finally, Stephens Consulting LLC increased its stake in shares of Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In other 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 transaction of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Wednesday. Truist Financial cut their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Robert W. Baird lifted their target price on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Barclays upped their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $95.20.

Medtronic Stock Up 1.1 %

Shares of NYSE MDT opened at $87.05 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08. The firm’s 50-day moving average price is $85.82 and its 200-day moving average price is $87.02. The stock has a market capitalization of $111.62 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 2.63 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. On average, equities research analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Friday, December 27th. 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.