New Hampshire Trust Cuts Stock Holdings in Medtronic plc (NYSE:MDT)

New Hampshire Trust reduced its holdings in Medtronic plc (NYSE:MDT) by 15.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,631 shares of the medical technology company’s stock after selling 1,189 shares during the period. New Hampshire Trust’s holdings in Medtronic were worth $584,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sageworth Trust Co purchased a new position in shares of Medtronic in the 1st quarter worth $26,000. Laurel Wealth Advisors LLC grew its stake in shares of Medtronic by 250.0% in the 1st quarter. Laurel Wealth Advisors LLC now owns 350 shares of the medical technology company’s stock worth $28,000 after buying an additional 250 shares in the last quarter. Trivant Custom Portfolio Group LLC purchased a new position in shares of Medtronic in the 1st quarter worth $31,000. Certified Advisory Corp purchased a new position in shares of Medtronic in the 1st quarter worth $31,000. Finally, Tucker Asset Management LLC purchased a new position in shares of Medtronic in the 1st quarter worth $32,000. 80.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on MDT. Wells Fargo & Company lifted their price target on shares of Medtronic from $100.00 to $102.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $89.00 price target on shares of Medtronic in a research note on Wednesday, August 23rd. Mizuho lifted their price target on shares of Medtronic from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. StockNews.com cut shares of Medtronic from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 7th. Finally, UBS Group lifted their price objective on shares of Medtronic from $79.00 to $82.00 and gave the company a “sell” rating in a report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $91.67.

Medtronic Stock Down 0.2 %

Shares of NYSE:MDT traded down $0.19 during trading hours on Friday, hitting $81.77. The company’s stock had a trading volume of 9,072,482 shares, compared to its average volume of 5,700,131. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.42 and a quick ratio of 1.79. The company has a market capitalization of $108.80 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 2.86 and a beta of 0.71. The firm’s fifty day moving average price is $84.16 and its 200 day moving average price is $84.34. Medtronic plc has a 52 week low of $75.76 and a 52 week high of $92.02.

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

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 22nd will be paid 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 3.38%. Medtronic’s dividend payout ratio (DPR) is presently 101.85%.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 2,000 shares of the business’s stock in a transaction that occurred 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 owns 23,948 shares of the company’s stock, valued at approximately $2,106,705.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Medtronic news, EVP Brett A. Wall sold 2,000 shares of the business’s stock in a transaction that occurred 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 owns 23,948 shares of the company’s stock, valued at approximately $2,106,705.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Hoedt Rob Ten sold 5,514 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $86.58, for a total transaction of $477,402.12. Following the sale, the executive vice president now directly owns 43,802 shares in the company, valued at approximately $3,792,377.16. The disclosure for this sale can be found here. Insiders sold a total of 19,866 shares of company stock worth $1,688,839 in the last 90 days. 0.30% of the stock is owned by corporate insiders.

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.