OLD Second National Bank of Aurora Acquires 1,411 Shares of Medtronic plc (NYSE:MDT)

OLD Second National Bank of Aurora raised its position in Medtronic plc (NYSE:MDT) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,369 shares of the medical technology company’s stock after acquiring an additional 1,411 shares during the quarter. OLD Second National Bank of Aurora’s holdings in Medtronic were worth $3,257,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Equity Investment Corp lifted its stake in Medtronic by 27.9% in the fourth quarter. Equity Investment Corp now owns 1,341,079 shares of the medical technology company’s stock valued at $110,478,000 after acquiring an additional 292,459 shares during the last quarter. Loudon Investment Management LLC lifted its stake in Medtronic by 9.5% in the fourth quarter. Loudon Investment Management LLC now owns 10,026 shares of the medical technology company’s stock valued at $786,000 after acquiring an additional 874 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in Medtronic in the fourth quarter valued at $941,000. Chemung Canal Trust Co. lifted its stake in Medtronic by 1,467.5% in the first quarter. Chemung Canal Trust Co. now owns 47,902 shares of the medical technology company’s stock valued at $4,175,000 after acquiring an additional 44,846 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Medtronic by 8,340.3% in the fourth quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock valued at $85,558,000 after acquiring an additional 1,026,274 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Medtronic stock traded down $0.06 during midday trading on Friday, hitting $78.01. The company’s stock had a trading volume of 2,638,106 shares, compared to its average volume of 6,272,114. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $91.00. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 1.55. The company has a 50-day moving average price of $81.28 and a two-hundred day moving average price of $83.20. The company has a market cap of $100.03 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 2.25 and a beta of 0.82.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.01. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The business had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the previous year, the company earned $1.57 EPS. The business’s revenue was up .5% on a year-over-year basis. As a group, sell-side analysts predict that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $0.70 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, June 28th. This represents a $2.80 annualized dividend and a yield of 3.59%. Medtronic’s payout ratio is 101.82%.

Insiders Place Their Bets

In other Medtronic news, CEO Geoffrey Martha sold 19,113 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $83.77, for a total value of $1,601,096.01. Following the transaction, the chief executive officer now directly owns 143,348 shares of the company’s stock, valued at approximately $12,008,261.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on MDT shares. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Friday, May 24th. Truist Financial cut their target price on shares of Medtronic from $90.00 to $88.00 and set a “hold” rating for the company in a research note on Friday, May 24th. Wells Fargo & Company raised their target price on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Citigroup cut their target price on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, The Goldman Sachs Group began coverage on shares of Medtronic in a research note on Thursday, May 30th. They set a “sell” rating and a $83.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $91.09.

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.