Central Bank & Trust Co. decreased its position in Medtronic PLC (NYSE:MDT) by 93.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,919 shares of the medical technology company’s stock after selling 41,045 shares during the quarter. Central Bank & Trust Co.’s holdings in Medtronic were worth $268,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bluefin Trading LLC increased its holdings in shares of Medtronic by 2,616.0% during the fourth quarter. Bluefin Trading LLC now owns 51,632 shares of the medical technology company’s stock valued at $5,857,000 after acquiring an additional 49,731 shares in the last quarter. Hummer Financial Advisory Services Inc boosted its position in shares of Medtronic by 8.7% during the first quarter. Hummer Financial Advisory Services Inc now owns 2,507 shares of the medical technology company’s stock valued at $227,000 after buying an additional 200 shares during the last quarter. Baird Financial Group Inc. boosted its position in Medtronic by 5.5% in the fourth quarter. Baird Financial Group Inc. now owns 400,639 shares of the medical technology company’s stock worth $45,453,000 after purchasing an additional 20,863 shares during the last quarter. First American Bank boosted its position in Medtronic by 1.0% in the first quarter. First American Bank now owns 58,295 shares of the medical technology company’s stock worth $5,257,000 after purchasing an additional 595 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its position in Medtronic by 29.5% in the fourth quarter. Macquarie Group Ltd. now owns 590,551 shares of the medical technology company’s stock worth $66,998,000 after purchasing an additional 134,602 shares during the last quarter. Institutional investors and hedge funds own 81.01% of the company’s stock.
In related news, SVP Carol A. Surface sold 2,000 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $97.72, for a total transaction of $195,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.28% of the stock is owned by insiders.
NYSE MDT opened at $94.65 on Thursday. The company has a market cap of $126.95 billion, a P/E ratio of 20.62, a P/E/G ratio of 3.49 and a beta of 0.67. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.72 and a current ratio of 2.13. The business’s 50 day moving average price is $94.30 and its 200-day moving average price is $101.24. Medtronic PLC has a fifty-two week low of $72.13 and a fifty-two week high of $122.15.
Medtronic (NYSE:MDT) last released its earnings results on Thursday, May 21st. The medical technology company reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by ($0.70). Medtronic had a net margin of 16.56% and a return on equity of 12.17%. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same period in the prior year, the firm posted $1.54 EPS. The business’s revenue for the quarter was down 26.4% compared to the same quarter last year. As a group, equities analysts predict that Medtronic PLC will post 3.51 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be issued a dividend of $0.58 per share. The ex-dividend date is Thursday, June 25th. This represents a $2.32 dividend on an annualized basis and a yield of 2.45%. This is a boost from Medtronic’s previous quarterly dividend of $0.54. Medtronic’s payout ratio is presently 50.54%.
A number of research analysts have recently weighed in on MDT shares. Raymond James lowered their price objective on Medtronic from $110.00 to $107.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Deutsche Bank decreased their target price on Medtronic from $123.00 to $118.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Piper Sandler decreased their target price on Medtronic from $135.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. Oppenheimer decreased their target price on Medtronic from $131.00 to $112.00 and set an “outperform” rating on the stock in a research note on Friday, May 22nd. Finally, Bank of America reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Medtronic in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Medtronic presently has a consensus rating of “Buy” and an average target price of $114.53.
About Medtronic
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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