Medtronic plc (NYSE:MDT) Shares Bought by American National Bank

American National Bank raised its holdings in Medtronic plc (NYSE:MDT) by 21.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,554 shares of the medical technology company’s stock after purchasing an additional 14,093 shares during the period. American National Bank’s holdings in Medtronic were worth $7,009,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Sageworth Trust Co acquired a new stake in Medtronic during the first quarter worth $26,000. Laurel Wealth Advisors LLC raised its stake in Medtronic by 250.0% during the 1st quarter. Laurel Wealth Advisors LLC now owns 350 shares of the medical technology company’s stock valued at $28,000 after acquiring an additional 250 shares during the last quarter. Trivant Custom Portfolio Group LLC purchased a new stake in Medtronic during the 1st quarter valued at approximately $31,000. Certified Advisory Corp acquired a new position in Medtronic during the 1st quarter worth approximately $31,000. Finally, Avalon Trust Co acquired a new position in Medtronic during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 80.75% of the company’s stock.

Insider Transactions at Medtronic

In related news, EVP Hoedt Rob Ten sold 5,514 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $86.58, for a total value of $477,402.12. Following the sale, the executive vice president now owns 43,802 shares of the company’s stock, valued at $3,792,377.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Hoedt Rob Ten sold 5,514 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $86.58, for a total value of $477,402.12. Following the sale, the executive vice president now owns 43,802 shares of the company’s stock, valued at $3,792,377.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Brett A. Wall sold 2,000 shares of the company’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $87.97, for a total transaction of $175,940.00. Following the sale, the executive vice president now directly owns 23,948 shares in the company, valued at approximately $2,106,705.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,866 shares of company stock worth $1,688,839. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on MDT shares. Truist Financial dropped their target price on Medtronic from $93.00 to $90.00 in a research report on Friday, May 26th. Robert W. Baird assumed coverage on Medtronic in a report on Tuesday, July 18th. They issued a “neutral” rating and a $90.00 price target on the stock. CL King assumed coverage on Medtronic in a report on Friday, June 30th. They issued a “buy” rating and a $106.00 price target on the stock. Oppenheimer restated a “market perform” rating and issued a $89.00 price target on shares of Medtronic in a report on Wednesday, August 23rd. Finally, Sanford C. Bernstein lowered their price target on Medtronic from $100.00 to $99.00 in a report on Friday, May 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $91.67.

Medtronic Stock Performance

MDT opened at $82.77 on Tuesday. The business’s 50-day moving average price is $84.16 and its two-hundred day moving average price is $84.35. Medtronic plc has a 1 year low of $75.76 and a 1 year high of $92.02. The company has a market capitalization of $110.13 billion, a price-to-earnings ratio of 30.54, a P/E/G ratio of 2.87 and a beta of 0.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.42 and a quick ratio of 1.79.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. Medtronic had a return on equity of 13.81% and a net margin of 11.47%. The business had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.57 billion. During the same quarter last year, the company posted $1.13 earnings per share. Medtronic’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts expect that Medtronic plc will post 5.12 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 22nd will be issued a dividend of $0.69 per share. The ex-dividend date is Thursday, September 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.33%. Medtronic’s dividend payout ratio (DPR) is presently 101.85%.

Medtronic 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.