Argent Trust Co Acquires 6,721 Shares of Medtronic plc (NYSE:MDT)

Argent Trust Co raised its stake in Medtronic plc (NYSE:MDT - Free Report) by 13.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,020 shares of the medical technology company's stock after buying an additional 6,721 shares during the period. Argent Trust Co's holdings in Medtronic were worth $4,475,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MONECO Advisors LLC lifted its position in shares of Medtronic by 1.8% during the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock valued at $512,000 after buying an additional 115 shares in the last quarter. OLD Second National Bank of Aurora lifted its holdings in Medtronic by 0.3% during the fourth quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock valued at $2,900,000 after purchasing an additional 121 shares in the last quarter. McKinley Carter Wealth Services Inc. lifted its holdings in Medtronic by 0.7% during the fourth quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company's stock valued at $1,572,000 after purchasing an additional 129 shares in the last quarter. Faithward Advisors LLC boosted its position in shares of Medtronic by 2.7% in the fourth quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock worth $403,000 after purchasing an additional 134 shares during the period. Finally, Vestor Capital LLC increased its stake in shares of Medtronic by 0.3% in the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock worth $4,104,000 after purchasing an additional 138 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

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Medtronic Trading Up 0.6 %

MDT stock traded up $0.47 during midday trading on Monday, reaching $83.37. 2,158,320 shares of the company traded hands, compared to its average volume of 6,666,167. The firm has a market capitalization of $106.93 billion, a price-to-earnings ratio of 25.34, a P/E/G ratio of 2.22 and a beta of 0.79. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The business has a 50 day moving average of $89.71 and a 200-day moving average of $87.63. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last issued 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. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. As a group, sell-side analysts expect 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 was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Friday, March 28th. Medtronic's dividend payout ratio (DPR) is currently 85.11%.

Wall Street Analysts Forecast Growth

MDT has been the subject of several recent analyst reports. Robert W. Baird upped their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. UBS Group upped their price objective on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Royal Bank of Canada reissued an "outperform" rating and set a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $96.14.

Insider Buying and Selling 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 shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares of the company's stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% of the company's stock.

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.