Commerce Bank Grows Position in Medtronic plc (NYSE:MDT)

Commerce Bank increased its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 143,555 shares of the medical technology company's stock after purchasing an additional 5,450 shares during the quarter. Commerce Bank's holdings in Medtronic were worth $11,467,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Morse Asset Management Inc acquired a new stake in Medtronic in the third quarter valued at about $225,000. Te Ahumairangi Investment Management Ltd raised its stake in shares of Medtronic by 4.1% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 52,321 shares of the medical technology company's stock worth $4,684,000 after buying an additional 2,050 shares in the last quarter. Chelsea Counsel Co. acquired a new stake in shares of Medtronic in the 3rd quarter valued at approximately $45,000. Tudor Financial Inc. purchased a new stake in shares of Medtronic in the third quarter valued at approximately $586,000. Finally, Anchor Investment Management LLC grew its holdings in Medtronic by 1.2% during the third quarter. Anchor Investment Management LLC now owns 107,518 shares of the medical technology company's stock worth $9,680,000 after acquiring an additional 1,271 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president now owns 40,979 shares of the company's stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on MDT. Truist Financial decreased their target price on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. UBS Group boosted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and increased their target price for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Royal Bank of Canada restated an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. Finally, Robert W. Baird lifted their price objective on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $96.14.

Medtronic Trading Up 0.5 %

NYSE:MDT traded up $0.43 on Thursday, reaching $84.18. The stock had a trading volume of 2,705,937 shares, compared to its average volume of 6,658,686. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25. The company has a market cap of $107.97 billion, a price-to-earnings ratio of 25.57, a P/E/G ratio of 2.22 and a beta of 0.79. The firm's fifty day moving average is $88.36 and its two-hundred day moving average is $87.31. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

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

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.33%. Medtronic's payout ratio is currently 85.11%.

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.