VeraBank N.A. Has $351,000 Holdings in Medtronic plc (NYSE:MDT)

VeraBank N.A. cut its holdings in Medtronic plc (NYSE:MDT) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,894 shares of the medical technology company’s stock after selling 130 shares during the quarter. VeraBank N.A.’s holdings in Medtronic were worth $351,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the third quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic during the third quarter valued at approximately $27,000. Lynx Investment Advisory bought a new stake in shares of Medtronic during the second quarter valued at approximately $28,000. Gleason Group Inc. bought a new stake in shares of Medtronic during the second quarter valued at approximately $42,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Medtronic during the second quarter valued at approximately $43,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Truist Financial boosted their price objective on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a report on Monday, October 14th. Barclays upped their price target on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Robert W. Baird upped their price target on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Evercore ISI upped their price target on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Citigroup upped their price target on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Medtronic has a consensus rating of “Hold” and an average target price of $95.36.

Medtronic Price Performance

MDT traded down $0.40 during trading on Friday, reaching $87.72. 8,137,674 shares of the company were exchanged, compared to its average volume of 4,969,610. The company’s 50-day moving average is $89.68 and its two-hundred day moving average is $84.48. The company has a market cap of $112.50 billion, a price-to-earnings ratio of 29.64, a P/E/G ratio of 2.58 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. Medtronic plc has a 12-month low of $69.32 and a 12-month high of $92.68.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The business had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 EPS. Research analysts forecast that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.19%. Medtronic’s dividend payout ratio (DPR) is 94.59%.

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.