Canandaigua National Bank & Trust Co. Reduces Position in Medtronic PLC (NYSE:MDT)

Canandaigua National Bank & Trust Co. lessened its holdings in shares of Medtronic PLC (NYSE:MDT) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,920 shares of the medical technology company’s stock after selling 927 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Medtronic were worth $3,621,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. LaFleur & Godfrey LLC boosted its holdings in shares of Medtronic by 10.5% in the second quarter. LaFleur & Godfrey LLC now owns 6,341 shares of the medical technology company’s stock valued at $618,000 after purchasing an additional 600 shares during the period. Colonial Trust Advisors boosted its holdings in shares of Medtronic by 2.2% in the second quarter. Colonial Trust Advisors now owns 35,473 shares of the medical technology company’s stock valued at $3,455,000 after purchasing an additional 764 shares during the period. Coldstream Capital Management Inc. boosted its holdings in shares of Medtronic by 6.7% in the third quarter. Coldstream Capital Management Inc. now owns 2,693 shares of the medical technology company’s stock valued at $292,000 after purchasing an additional 170 shares during the period. Corient Capital Partners LLC boosted its holdings in shares of Medtronic by 3.4% in the third quarter. Corient Capital Partners LLC now owns 56,810 shares of the medical technology company’s stock valued at $6,171,000 after purchasing an additional 1,856 shares during the period. Finally, BBVA USA Bancshares Inc. boosted its holdings in shares of Medtronic by 10.4% in the third quarter. BBVA USA Bancshares Inc. now owns 93,154 shares of the medical technology company’s stock valued at $10,118,000 after purchasing an additional 8,807 shares during the period. Institutional investors and hedge funds own 80.65% of the company’s stock.

In other Medtronic news, EVP Michael J. Coyle sold 2,102 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $109.77, for a total value of $230,736.54. Following the sale, the executive vice president now directly owns 189,162 shares of the company’s stock, valued at $20,764,312.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard H. Anderson purchased 5,000 shares of the stock in a transaction on Friday, December 6th. The stock was acquired at an average cost of $111.13 per share, for a total transaction of $555,650.00. The disclosure for this purchase can be found here. Over the last three months, insiders sold 106,433 shares of company stock worth $11,704,539. 0.28% of the stock is owned by insiders.

Shares of NYSE MDT traded up $0.11 during mid-day trading on Friday, hitting $118.97. The stock had a trading volume of 2,711,965 shares, compared to its average volume of 4,049,899. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.28 and a current ratio of 2.77. The company has a 50 day moving average of $113.96 and a two-hundred day moving average of $107.77. Medtronic PLC has a twelve month low of $82.77 and a twelve month high of $119.30. The firm has a market cap of $156.88 billion, a PE ratio of 22.79, a PEG ratio of 2.84 and a beta of 0.60.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.03. Medtronic had a return on equity of 14.52% and a net margin of 15.11%. The firm had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the prior year, the firm earned $1.22 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. Equities research analysts predict that Medtronic PLC will post 5.6 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, December 27th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Thursday, December 26th. Medtronic’s payout ratio is 41.38%.

A number of analysts recently issued reports on the company. Citigroup lowered Medtronic from a “buy” rating to a “neutral” rating in a report on Thursday, January 2nd. Oppenheimer upped their target price on Medtronic from $118.00 to $123.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. upped their target price on Medtronic from $122.00 to $128.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Guggenheim upgraded Medtronic from a “neutral” rating to a “buy” rating and set a $135.00 target price for the company in a report on Thursday, January 2nd. They noted that the move was a valuation call. Finally, Deutsche Bank began coverage on Medtronic in a report on Friday, January 3rd. They set a “buy” rating and a $99.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $119.90.

Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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