Crews Bank & Trust Buys New Position in Medtronic plc (NYSE:MDT)

Crews Bank & Trust purchased a new stake in Medtronic plc (NYSE:MDT) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 9,453 shares of the medical technology company’s stock, valued at approximately $755,000.

Several other large investors have also modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Medtronic by 436.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock worth $661,125,000 after purchasing an additional 5,975,110 shares during the period. Bank of Montreal Can lifted its stake in Medtronic by 65.0% in the third quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock valued at $406,122,000 after acquiring an additional 1,790,483 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Medtronic by 1,195.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock worth $144,637,000 after purchasing an additional 1,695,800 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Medtronic by 58.4% during the 3rd quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company’s stock valued at $346,705,000 after acquiring an additional 1,420,263 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Medtronic by 8,908.6% during the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock valued at $116,896,000 after purchasing an additional 1,284,002 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Down 0.0 %

MDT opened at $91.94 on Thursday. The firm’s fifty day simple moving average is $83.99 and its 200 day simple moving average is $85.83. The stock has a market capitalization of $117.89 billion, a P/E ratio of 27.95, a P/E/G ratio of 2.49 and a beta of 0.83. 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.

Medtronic (NYSE:MDT) last posted its quarterly earnings data 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. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. Medtronic’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. As a group, research analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.05%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MDT. Sanford C. Bernstein raised their target price on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Barclays upped their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. 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 report on Wednesday, November 20th. Truist Financial reduced their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company lowered their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Medtronic presently has a consensus rating of “Hold” and an average price target of $95.00.

Insider Transactions at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The stock was 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 owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

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.