Medtronic plc (NYSE:MDT) Shares Sold by First Interstate Bank

First Interstate Bank reduced its position in Medtronic plc (NYSE:MDT) by 20.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,798 shares of the medical technology company’s stock after selling 700 shares during the quarter. First Interstate Bank’s holdings in Medtronic were worth $230,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Hartford Financial Management Inc. boosted its position in shares of Medtronic by 425.0% during the 3rd quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock worth $25,000 after purchasing an additional 255 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of Medtronic during the 4th quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. boosted its position in shares of Medtronic by 293.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 236,064 shares in the last quarter. Financial Gravity Asset Management Inc. boosted its position in shares of Medtronic by 317.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 279 shares in the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Medtronic during the 3rd quarter worth $31,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on MDT. Oppenheimer boosted their price objective on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 21st. Truist Financial upped their price objective on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Mizuho increased their target price 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 reissued a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and an average price target of $94.91.

Insider Buying and Selling

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

Medtronic Stock Down 1.2 %

Shares of Medtronic stock traded down $0.98 on Wednesday, hitting $79.25. 7,674,490 shares of the company’s stock traded hands, compared to its average volume of 5,758,655. The stock has a market cap of $105.23 billion, a P/E ratio of 25.24, a PEG ratio of 2.74 and a beta of 0.76. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The firm’s 50-day moving average is $84.35 and its 200 day moving average is $81.02. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $92.02.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.26 by $0.04. The company had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.30 EPS. Equities analysts anticipate that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.48%. The ex-dividend date was Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

About Medtronic

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.