Medtronic plc (NYSE:MDT) Shares Purchased by Moody National Bank Trust Division

Moody National Bank Trust Division raised its holdings in Medtronic plc (NYSE:MDT) by 6.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,050 shares of the medical technology company’s stock after purchasing an additional 715 shares during the period. Moody National Bank Trust Division’s holdings in Medtronic were worth $1,050,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in Medtronic in the fourth quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. grew its holdings in Medtronic by 293.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 236,064 shares during the period. MeadowBrook Investment Advisors LLC acquired a new stake in Medtronic in the fourth quarter valued at approximately $27,000. Financial Gravity Asset Management Inc. grew its holdings in Medtronic by 317.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 279 shares during the period. Finally, Fortis Group Advisors LLC grew its holdings in Medtronic by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock valued at $38,000 after purchasing an additional 230 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Medtronic

In other Medtronic news, CEO Geoffrey Martha sold 19,113 shares of Medtronic stock in a transaction on Friday, June 7th. The stock was sold at an average price of $83.77, for a total value of $1,601,096.01. Following the sale, the chief executive officer now owns 143,348 shares in the company, valued at $12,008,261.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Medtronic news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Geoffrey Martha sold 19,113 shares of Medtronic stock in a transaction on Friday, June 7th. The shares were sold at an average price of $83.77, for a total value of $1,601,096.01. Following the completion of the sale, the chief executive officer now owns 143,348 shares in the company, valued at approximately $12,008,261.96. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Medtronic Stock Performance

Shares of Medtronic stock opened at $79.75 on Thursday. Medtronic plc has a one year low of $68.84 and a one year high of $91.00. The company has a market cap of $105.89 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 2.32 and a beta of 0.83. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.03. The business’s 50 day moving average price is $81.82 and its 200 day moving average price is $83.49.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.01. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The firm had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter last year, the business posted $1.57 earnings per share. The firm’s revenue was up .5% compared to the same quarter last year. On average, research analysts predict that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.51%. This is an increase from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s payout ratio is currently 100.36%.

Analyst Upgrades and Downgrades

Several analysts have commented on MDT shares. Truist Financial dropped their price objective on Medtronic from $90.00 to $88.00 and set a “hold” rating on the stock in a report on Friday, May 24th. The Goldman Sachs Group initiated coverage on Medtronic in a research note on Thursday, May 30th. They issued a “sell” rating and a $83.00 price target on the stock. Mizuho lifted their price target on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Wells Fargo & Company lifted their price target on Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Finally, Oppenheimer lifted their price target on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 21st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $93.00.

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.