First American Trust FSB Makes New $5.11 Million Investment in Medtronic plc (NYSE:MDT)

First American Trust FSB bought a new stake in Medtronic plc (NYSE:MDT - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 63,926 shares of the medical technology company's stock, valued at approximately $5,106,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Guardian Wealth Management Inc. boosted its holdings in shares of Medtronic by 0.9% during the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company's stock worth $1,182,000 after purchasing an additional 115 shares during the last quarter. MONECO Advisors LLC lifted its position in Medtronic by 1.8% during the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock worth $512,000 after buying an additional 115 shares during the period. Hardy Reed LLC boosted its stake in Medtronic by 4.4% in the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company's stock worth $247,000 after buying an additional 116 shares during the last quarter. OLD Second National Bank of Aurora grew its holdings in Medtronic by 0.3% in the 4th 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 buying an additional 121 shares during the period. Finally, McKinley Carter Wealth Services Inc. increased its stake in shares of Medtronic by 0.7% during the 4th quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company's stock valued at $1,572,000 after acquiring an additional 129 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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Medtronic Stock Down 1.8 %

MDT stock traded down $1.63 during trading on Tuesday, reaching $88.50. The stock had a trading volume of 8,819,534 shares, compared to its average volume of 6,105,209. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average price of $90.90 and a 200 day moving average price of $88.04. The company has a market capitalization of $113.51 billion, a P/E ratio of 26.90, a PEG 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 $96.25.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. The business had revenue of $8.29 billion for 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%. On average, equities analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio (DPR) is currently 85.11%.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 40,979 shares of the company's stock, valued at approximately $3,688,110. This trade 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. Corporate insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MDT. Robert W. Baird boosted their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Truist Financial reduced their target price on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday, December 18th. Royal Bank of Canada restated an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. UBS Group lifted their price objective on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Finally, Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and raised their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Medtronic currently has a consensus rating of "Hold" and an average price target of $96.07.

Medtronic 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.