Bank of Jackson Hole Trust Acquires Shares of 3,210 Medtronic plc (NYSE:MDT)

Bank of Jackson Hole Trust purchased a new position in shares of Medtronic plc (NYSE:MDT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,210 shares of the medical technology company's stock, valued at approximately $256,000.

A number of other large investors also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC bought a new stake in Medtronic during the 3rd quarter valued at $27,000. Highline Wealth Partners LLC purchased a new stake in Medtronic in the third quarter worth about $27,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Stephens Consulting LLC lifted its position in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after buying an additional 204 shares during the period. Finally, J. Stern & Co. LLP bought a new position in shares of Medtronic during the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on MDT. Barclays raised their price target on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Royal Bank of Canada reissued an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a research report on Wednesday. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Wednesday. Sanford C. Bernstein lifted their target price on Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $95.20.

Medtronic Trading Up 2.3 %

Shares of NYSE:MDT traded up $2.01 on Friday, hitting $89.95. 11,762,886 shares of the company's stock were exchanged, compared to its average volume of 7,605,718. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The stock has a market capitalization of $115.34 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 2.46 and a beta of 0.84. The business's 50 day simple moving average is $85.93 and its two-hundred day simple moving average is $87.03. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic's payout ratio is 85.11%.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now owns 40,708 shares of the company's stock, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

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.