Peoples Bank KS Has $1.05 Million Holdings in Medtronic plc (NYSE:MDT)

Peoples Bank KS trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 5.3% in the third quarter, HoldingsChannel reports. The firm owned 11,614 shares of the medical technology company’s stock after selling 645 shares during the period. Peoples Bank KS’s holdings in Medtronic were worth $1,046,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of MDT. J. W. Coons Advisors LLC acquired a new stake in Medtronic in the 4th quarter valued at about $210,000. First Trust Advisors LP increased its stake in shares of Medtronic by 2.4% in the 4th quarter. First Trust Advisors LP now owns 1,106,515 shares of the medical technology company’s stock valued at $91,155,000 after buying an additional 26,023 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in shares of Medtronic in the 4th quarter valued at $16,280,000. Cibc World Markets Corp lifted its stake in shares of Medtronic by 11.6% during the fourth quarter. Cibc World Markets Corp now owns 171,259 shares of the medical technology company’s stock valued at $14,108,000 after acquiring an additional 17,787 shares during the period. Finally, Vinva Investment Management Ltd lifted its stake in shares of Medtronic by 18.0% during the fourth quarter. Vinva Investment Management Ltd now owns 46,384 shares of the medical technology company’s stock valued at $3,837,000 after acquiring an additional 7,074 shares during the period. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Stifel Nicolaus boosted their price objective on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Piper Sandler increased their price objective on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Oppenheimer upped their target price on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Tuesday, August 20th. Finally, Citigroup upped their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $94.21.

Medtronic Stock Up 0.6 %

Shares of NYSE MDT traded up $0.49 during midday trading on Friday, reaching $88.26. The company’s stock had a trading volume of 3,598,515 shares, compared to its average volume of 6,355,535. The stock has a 50 day simple moving average of $86.58 and a 200-day simple moving average of $83.26. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $113.17 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 2.56 and a beta of 0.84. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.49.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. The firm had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 EPS. Equities research analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.17%. The ex-dividend date is Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is currently 101.82%.

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.