Huntington National Bank Acquires 3,412 Shares of Medtronic plc (NYSE:MDT)

Huntington National Bank raised its position in Medtronic plc (NYSE:MDT - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,597 shares of the medical technology company's stock after buying an additional 3,412 shares during the quarter. Huntington National Bank's holdings in Medtronic were worth $10,192,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Mainstream Capital Management LLC purchased a new position in Medtronic in the 4th quarter valued at approximately $26,000. Rakuten Securities Inc. grew its position in shares of Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 294 shares in the last quarter. Stephens Consulting LLC raised its stake in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 204 shares during the period. Fiduciary Advisors Inc. purchased a new stake in Medtronic during the 4th quarter worth about $36,000. Finally, Chelsea Counsel Co. bought a new position in Medtronic in the 3rd quarter worth about $45,000. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares in the company, 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 SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

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Medtronic Price Performance

NYSE MDT traded down $5.03 on Friday, reaching $82.86. 12,031,524 shares of the company's stock traded hands, compared to its average volume of 6,610,094. The stock has a market cap of $106.28 billion, a PE ratio of 25.19, a P/E/G ratio of 2.22 and a beta of 0.79. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The stock has a 50-day simple moving average of $90.87 and a 200 day simple moving average of $87.93. 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 released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, research analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business 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 $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic's dividend payout ratio (DPR) is presently 85.11%.

Analysts Set New Price Targets

MDT has been the topic of a number of recent analyst reports. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and increased their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Truist Financial cut their price target on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, December 18th. Robert W. Baird upped their price target on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Royal Bank of Canada reissued an "outperform" rating and set a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $96.07.

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.