Fulton Bank N.A. lowered its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 50.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,045 shares of the medical technology company's stock after selling 8,281 shares during the quarter. Fulton Bank N.A.'s holdings in Medtronic were worth $643,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in the business. Fortitude Family Office LLC purchased a new stake in Medtronic in the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new position in shares of Medtronic in the third quarter worth approximately $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic during the 3rd quarter valued at $27,000. J. Stern & Co. LLP purchased a new position in shares of Medtronic during the 3rd quarter valued at $30,000. Finally, Chelsea Counsel Co. bought a new position in Medtronic in the 3rd quarter worth $45,000. Institutional investors own 82.06% of the company's stock.
Medtronic Trading Down 2.5 %
NYSE MDT traded down $2.06 on Friday, hitting $80.62. 7,067,217 shares of the stock were exchanged, compared to its average volume of 7,406,823. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The firm has a market capitalization of $103.38 billion, a P/E ratio of 24.65, a P/E/G ratio of 2.33 and a beta of 0.83. The stock has a fifty day moving average price of $84.17 and a two-hundred day moving average price of $84.89.
Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the prior year, the firm posted $1.25 EPS. The firm's revenue was up 5.2% compared to the same quarter last year. Research analysts forecast that Medtronic plc will post 5.45 EPS for the current fiscal year.
Medtronic Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, December 27th. Medtronic's dividend payout ratio is currently 85.63%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on MDT shares. Royal Bank of Canada raised Medtronic from a "sector perform" rating to an "outperform" rating and raised their price target for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Wells Fargo & Company dropped their price target on Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, November 20th. Barclays lifted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research report on Tuesday, November 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Monday, November 18th. Finally, Sanford C. Bernstein lifted their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $95.00.
Get Our Latest Report on Medtronic
Insider Activity at Medtronic
In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by company insiders.
Medtronic Profile
(
Free Report)
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.
Read More
Before you consider Medtronic, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Medtronic wasn't on the list.
While Medtronic currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
