Private Trust Co. NA Has $1.32 Million Position in Medtronic plc (NYSE:MDT)

Private Trust Co. NA cut its holdings in shares of Medtronic plc (NYSE:MDTGet Rating) by 32.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,881 shares of the medical technology company’s stock after selling 5,818 shares during the quarter. Private Trust Co. NA’s holdings in Medtronic were worth $1,318,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC boosted its holdings in Medtronic by 1.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,453 shares of the medical technology company’s stock worth $684,000 after acquiring an additional 90 shares in the last quarter. Wealth Architects LLC boosted its holdings in Medtronic by 5.2% in the fourth quarter. Wealth Architects LLC now owns 1,991 shares of the medical technology company’s stock worth $206,000 after acquiring an additional 98 shares in the last quarter. Chicago Capital LLC lifted its holdings in shares of Medtronic by 4.0% in the fourth quarter. Chicago Capital LLC now owns 2,541 shares of the medical technology company’s stock valued at $263,000 after purchasing an additional 98 shares in the last quarter. Lincoln National Corp lifted its holdings in shares of Medtronic by 1.4% in the fourth quarter. Lincoln National Corp now owns 7,310 shares of the medical technology company’s stock valued at $756,000 after purchasing an additional 98 shares in the last quarter. Finally, Aspen Investment Management Inc lifted its holdings in shares of Medtronic by 1.3% in the third quarter. Aspen Investment Management Inc now owns 7,622 shares of the medical technology company’s stock valued at $955,000 after purchasing an additional 100 shares in the last quarter. 80.23% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently weighed in on MDT shares. Truist Financial dropped their target price on Medtronic from $121.00 to $111.00 and set a “hold” rating on the stock in a report on Friday, May 27th. Bank of America started coverage on Medtronic in a report on Tuesday, March 1st. They issued a “buy” rating on the stock. Morgan Stanley dropped their target price on Medtronic from $115.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 7th. StockNews.com started coverage on Medtronic in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Medtronic from $149.00 to $121.00 in a report on Friday, May 27th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and a consensus price target of $121.55.

Shares of NYSE MDT opened at $89.25 on Thursday. The stock has a market cap of $119.73 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 2.26 and a beta of 0.74. Medtronic plc has a fifty-two week low of $86.95 and a fifty-two week high of $135.89. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.49 and a current ratio of 1.86. The stock has a fifty day moving average of $100.73 and a 200-day moving average of $104.38.

Medtronic (NYSE:MDTGet Rating) last announced its quarterly earnings results on Thursday, May 26th. The medical technology company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.04). The company had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $8.43 billion. Medtronic had a net margin of 15.90% and a return on equity of 14.50%. Medtronic’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.50 earnings per share. On average, sell-side analysts predict that Medtronic plc will post 5.56 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Friday, June 24th will be given a $0.68 dividend. The ex-dividend date of this dividend is Thursday, June 23rd. This is a boost from Medtronic’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 3.05%. Medtronic’s payout ratio is 67.56%.

Medtronic Profile (Get Rating)

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software.

Further Reading

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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