Tompkins Financial Corp Acquires 252 Shares of Medtronic plc (NYSE:MDT)

Tompkins Financial Corp lifted its holdings in shares of Medtronic plc (NYSE:MDTFree Report) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,991 shares of the medical technology company’s stock after buying an additional 252 shares during the period. Tompkins Financial Corp’s holdings in Medtronic were worth $164,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Hartford Financial Management Inc. lifted its position in Medtronic by 425.0% during the third quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock valued at $25,000 after purchasing an additional 255 shares during the period. Missouri Trust & Investment Co boosted its stake in shares of Medtronic by 209.0% during the 2nd quarter. Missouri Trust & Investment Co now owns 309 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 209 shares during the last quarter. Financial Gravity Asset Management Inc. grew its position in shares of Medtronic by 317.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 279 shares during the period. Princeton Global Asset Management LLC purchased a new stake in shares of Medtronic in the 3rd quarter worth $31,000. Finally, Certified Advisory Corp bought a new position in Medtronic in the 1st quarter worth $31,000. 80.75% of the stock is currently owned by institutional investors.

Medtronic Stock Down 1.0 %

NYSE MDT opened at $83.57 on Friday. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $92.02. The firm has a market capitalization of $110.97 billion, a price-to-earnings ratio of 26.61, a PEG ratio of 2.91 and a beta of 0.76. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average of $85.68 and a two-hundred day moving average of $80.57.

Medtronic (NYSE:MDTGet Free Report) last released its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. The business had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 earnings per share. On average, analysts predict that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 22nd will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Insiders Place Their Bets

In related news, EVP Brett A. Wall sold 4,997 shares of Medtronic stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $82.17, for a total value of $410,603.49. Following the completion of the sale, the executive vice president now directly owns 28,910 shares in the company, valued at $2,375,534.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Brett A. Wall sold 4,997 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $82.17, for a total value of $410,603.49. Following the completion of the transaction, the executive vice president now owns 28,910 shares of the company’s stock, valued at $2,375,534.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sean Salmon sold 30,695 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total value of $2,613,065.35. Following the sale, the executive vice president now directly owns 48,289 shares in the company, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MDT. Mizuho upped their price target on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Morgan Stanley dropped their price target on shares of Medtronic from $104.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 22nd. Oppenheimer raised their price objective on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research note on Wednesday, February 21st. Finally, Truist Financial boosted their price objective on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Medtronic has an average rating of “Moderate Buy” and a consensus target price of $94.91.

Get Our Latest Report on Medtronic

Medtronic Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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