Private Trust Co. NA Has $678,000 Stock Holdings in Medtronic plc (NYSE:MDT)

Private Trust Co. NA decreased its position in shares of Medtronic plc (NYSE:MDT) by 7.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,486 shares of the medical technology company’s stock after selling 669 shares during the period. Private Trust Co. NA’s holdings in Medtronic were worth $678,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in MDT. Principal Securities Inc. boosted its position in shares of Medtronic by 6.7% during the 3rd quarter. Principal Securities Inc. now owns 47,656 shares of the medical technology company’s stock worth $4,290,000 after acquiring an additional 2,981 shares in the last quarter. Hills Bank & Trust Co acquired a new stake in shares of Medtronic during the 3rd quarter worth approximately $108,000. Capital Advisors Inc. OK boosted its position in shares of Medtronic by 3.8% during the 3rd quarter. Capital Advisors Inc. OK now owns 316,031 shares of the medical technology company’s stock worth $28,452,000 after acquiring an additional 11,708 shares in the last quarter. Weatherly Asset Management L. P. acquired a new stake in shares of Medtronic during the 3rd quarter worth approximately $231,000. Finally, Farther Finance Advisors LLC boosted its position in Medtronic by 13.3% in the third quarter. Farther Finance Advisors LLC now owns 38,280 shares of the medical technology company’s stock valued at $3,446,000 after buying an additional 4,490 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on MDT shares. UBS Group raised their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Wells Fargo & Company cut their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Sanford C. Bernstein raised their target price on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Robert W. Baird raised their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic Price Performance

MDT stock opened at $92.00 on Friday. The company has a fifty day moving average price of $87.08 and a 200-day moving average price of $87.46. The company has a market capitalization of $117.97 billion, a P/E ratio of 27.96, a PEG ratio of 2.22 and a beta of 0.84. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $93.08. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. As a group, equities analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.11%.

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.