Moody National Bank Trust Division trimmed its position in Medtronic plc (NYSE:MDT – Get Rating) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,755 shares of the medical technology company’s stock after selling 740 shares during the quarter. Moody National Bank Trust Division’s holdings in Medtronic were worth $1,691,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the company. First Citizens Financial Corp lifted its stake in shares of Medtronic by 10.7% in the fourth quarter. First Citizens Financial Corp now owns 4,134 shares of the medical technology company’s stock worth $321,000 after buying an additional 399 shares during the last quarter. Foundations Investment Advisors LLC lifted its stake in shares of Medtronic by 42.4% in the fourth quarter. Foundations Investment Advisors LLC now owns 13,461 shares of the medical technology company’s stock worth $1,046,000 after buying an additional 4,005 shares during the last quarter. EWG Elevate Inc. acquired a new stake in shares of Medtronic in the fourth quarter worth $52,000. Glassy Mountain Advisors Inc. acquired a new stake in shares of Medtronic in the fourth quarter worth $1,727,000. Finally, Phocas Financial Corp. bought a new position in Medtronic during the fourth quarter worth $62,000. 80.37% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on MDT shares. Oppenheimer lowered shares of Medtronic from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $106.00 to $85.00 in a research report on Wednesday, November 23rd. Royal Bank of Canada lowered shares of Medtronic from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $102.00 to $89.00 in a research report on Monday, January 9th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Medtronic from $80.00 to $87.00 in a research report on Wednesday, February 22nd. Cowen dropped their target price on shares of Medtronic from $117.00 to $90.00 in a research report on Wednesday, November 23rd. Finally, Cowen dropped their target price on shares of Medtronic from $117.00 to $90.00 in a research report on Wednesday, November 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.72.
Medtronic Price Performance
Medtronic (NYSE:MDT – Get Rating) last posted its earnings results on Tuesday, February 21st. The medical technology company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.03. Medtronic had a net margin of 13.20% and a return on equity of 13.37%. The business had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same quarter in the prior year, the firm earned $1.37 EPS. The firm’s quarterly revenue was down .8% compared to the same quarter last year. On average, analysts anticipate that Medtronic plc will post 5.28 EPS for the current year.
Medtronic Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 24th will be given a dividend of $0.68 per share. The ex-dividend date is Thursday, March 23rd. This represents a $2.72 annualized dividend and a yield of 3.47%. Medtronic’s dividend payout ratio (DPR) is 89.47%.
Insider Buying and Selling
In related news, major shareholder Plc Medtronic purchased 6,835 shares of Medtronic stock in a transaction that occurred on Monday, January 30th. The shares were acquired at an average price of $9.28 per share, for a total transaction of $63,428.80. Following the transaction, the insider now directly owns 4,999,423 shares in the company, valued at $46,394,645.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by corporate insiders.
Medtronic Company Profile
Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiovascular Porrtfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.
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