First National Trust Co Sells 17,536 Shares of Medtronic plc (NYSE:MDT)

First National Trust Co cut its position in Medtronic plc (NYSE:MDT) by 12.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 120,435 shares of the medical technology company’s stock after selling 17,536 shares during the quarter. First National Trust Co’s holdings in Medtronic were worth $9,921,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Provence Wealth Management Group grew its position in Medtronic by 5,086.8% during the 4th quarter. Provence Wealth Management Group now owns 3,527 shares of the medical technology company’s stock worth $291,000 after acquiring an additional 3,459 shares during the last quarter. Sapient Capital LLC bought a new stake in shares of Medtronic during the fourth quarter worth $213,000. Axxcess Wealth Management LLC grew its holdings in shares of Medtronic by 17.0% during the fourth quarter. Axxcess Wealth Management LLC now owns 25,342 shares of the medical technology company’s stock worth $2,088,000 after purchasing an additional 3,690 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in shares of Medtronic by 43.8% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 92,725 shares of the medical technology company’s stock valued at $7,639,000 after buying an additional 28,229 shares in the last quarter. Finally, Merit Financial Group LLC increased its stake in shares of Medtronic by 2.1% in the fourth quarter. Merit Financial Group LLC now owns 9,413 shares of the medical technology company’s stock valued at $775,000 after buying an additional 194 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the sale, the executive vice president now owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the sale, the executive vice president now owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Medtronic Trading Up 1.0 %

Shares of Medtronic stock traded up $0.77 on Friday, hitting $81.69. 4,987,236 shares of the company’s stock traded hands, compared to its average volume of 6,078,836. The firm’s 50-day moving average price is $83.08 and its two-hundred day moving average price is $81.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. The stock has a market capitalization of $108.47 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 2.66 and a beta of 0.78. Medtronic plc has a one year low of $68.84 and a one year high of $91.00.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The business had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.95 billion. During the same period in the previous year, the firm earned $1.30 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, research analysts expect that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were given a $0.69 dividend. The ex-dividend date was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.38%. Medtronic’s dividend payout ratio is 87.90%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MDT. Truist Financial upped their price target on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. Oppenheimer increased their price target on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. Mizuho boosted their price objective on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $94.91.

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.