Crews Bank & Trust Purchases New Shares in Medtronic plc (NYSE:MDT)

Crews Bank & Trust bought a new position in shares of Medtronic plc (NYSE:MDT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 9,453 shares of the medical technology company's stock, valued at approximately $755,000.

Several other institutional investors have also bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Medtronic by 436.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company's stock valued at $661,125,000 after purchasing an additional 5,975,110 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Medtronic by 65.0% during the third quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company's stock worth $406,122,000 after buying an additional 1,790,483 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Medtronic by 1,195.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company's stock valued at $144,637,000 after acquiring an additional 1,695,800 shares during the last quarter. Janus Henderson Group PLC grew its position in Medtronic by 58.4% during the 3rd quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company's stock worth $346,705,000 after acquiring an additional 1,420,263 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Medtronic by 8,908.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company's stock valued at $116,896,000 after purchasing an additional 1,284,002 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Trading Up 0.7 %

Shares of NYSE MDT traded up $0.60 during midday trading on Thursday, reaching $92.01. 5,101,645 shares of the stock were exchanged, compared to its average volume of 7,780,065. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The company has a market capitalization of $117.98 billion, a price-to-earnings ratio of 28.14, a P/E/G ratio of 2.49 and a beta of 0.83. The business has a 50-day simple moving average of $84.14 and a two-hundred day simple moving average of $85.87.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the business earned $1.25 EPS. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.04%. Medtronic's dividend payout ratio (DPR) is presently 85.63%.

Insider Buying and Selling

In other news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction dated Friday, January 24th. The shares were 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 owns 40,979 shares of the company's stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on MDT shares. Wells Fargo & Company decreased their target price on Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, November 20th. Robert W. Baird lowered their price objective on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a research report on Wednesday, November 20th. 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. Sanford C. Bernstein boosted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. Finally, Truist Financial decreased their price objective on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Medtronic currently has a consensus rating of "Hold" and a consensus target price of $95.00.

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.