Medtronic plc (NYSE:MDT) Shares Bought by AMG National Trust Bank

AMG National Trust Bank boosted its position in shares of Medtronic plc (NYSE:MDT) by 10.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,760 shares of the medical technology company’s stock after buying an additional 265 shares during the period. AMG National Trust Bank’s holdings in Medtronic were worth $220,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MDT. Andra AP fonden grew its stake in shares of Medtronic by 153.3% in the 4th quarter. Andra AP fonden now owns 46,929 shares of the medical technology company’s stock valued at $3,749,000 after purchasing an additional 28,400 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its stake in shares of Medtronic by 68.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 22,576 shares of the medical technology company’s stock valued at $1,819,000 after purchasing an additional 9,181 shares during the last quarter. Callan Family Office LLC grew its stake in shares of Medtronic by 348.0% in the 4th quarter. Callan Family Office LLC now owns 16,678 shares of the medical technology company’s stock valued at $1,332,000 after purchasing an additional 12,955 shares during the last quarter. Hartford Funds Management Co LLC grew its stake in shares of Medtronic by 2.5% in the 4th quarter. Hartford Funds Management Co LLC now owns 8,283 shares of the medical technology company’s stock valued at $662,000 after purchasing an additional 201 shares during the last quarter. Finally, E Fund Management Co. Ltd. grew its stake in shares of Medtronic by 81.5% in the 4th quarter. E Fund Management Co. Ltd. now owns 7,132 shares of the medical technology company’s stock valued at $570,000 after purchasing an additional 3,202 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Truist Financial lowered their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lowered their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. Sanford C. Bernstein lifted their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company decreased their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $96.07.

Medtronic Stock Performance

Shares of MDT stock opened at $94.58 on Friday. The stock has a fifty day moving average price of $88.33 and a 200 day moving average price of $87.80. The stock has a market cap of $121.30 billion, a PE ratio of 28.75, a P/E/G ratio of 2.22 and a beta of 0.80. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $95.57. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. The firm had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Sell-side analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 2.96%. Medtronic’s dividend payout ratio is presently 85.11%.

Medtronic Company 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.