Stock Yards Bank & Trust Co. lessened its stake in Medtronic plc (NYSE:MDT - Free Report) by 20.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,569 shares of the medical technology company's stock after selling 2,891 shares during the quarter. Stock Yards Bank & Trust Co.'s holdings in Medtronic were worth $924,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in MDT. Fortitude Family Office LLC acquired a new position in Medtronic during the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic during the third quarter worth $27,000. Darwin Wealth Management LLC bought a new position in Medtronic in the third quarter valued at $27,000. J. Stern & Co. LLP acquired a new stake in Medtronic in the 3rd quarter valued at $30,000. Finally, Fiduciary Advisors Inc. bought a new stake in Medtronic during the 4th quarter worth about $36,000. Institutional investors own 82.06% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the company. Wells Fargo & Company decreased their price objective on Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, November 20th. Barclays boosted their price target on Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. Truist Financial cut their price objective on 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 decreased their target price on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada raised shares of Medtronic from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Medtronic presently has an average rating of "Hold" and a consensus price target of $95.00.
Check Out Our Latest Report on MDT
Insider Buying and Selling at Medtronic
In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction 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 transaction, the executive vice president now directly owns 40,979 shares of the company's stock, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company's stock.
Medtronic Stock Performance
Shares of Medtronic stock traded up $0.46 on Tuesday, hitting $90.99. The stock had a trading volume of 5,193,094 shares, compared to its average volume of 7,546,100. The stock has a market cap of $116.67 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08. The business's 50 day moving average is $84.47 and its two-hundred day moving average is $86.16.
Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the firm posted $1.25 EPS. The company's revenue for the quarter was up 5.2% on a year-over-year basis. Analysts forecast that Medtronic plc will post 5.45 EPS for the current year.
Medtronic Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.08%. The ex-dividend date was Friday, December 27th. Medtronic's dividend payout ratio (DPR) is 85.63%.
About Medtronic
(
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.
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