Pinnacle Bancorp Inc. Grows Stock Holdings in Medtronic plc (NYSE:MDT)

Pinnacle Bancorp Inc. grew its holdings in Medtronic plc (NYSE:MDT) by 7.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,656 shares of the medical technology company’s stock after acquiring an additional 257 shares during the period. Pinnacle Bancorp Inc.’s holdings in Medtronic were worth $319,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Equity Investment Corp boosted its holdings in shares of Medtronic by 27.9% in the 4th quarter. Equity Investment Corp now owns 1,341,079 shares of the medical technology company’s stock valued at $110,478,000 after acquiring an additional 292,459 shares during the last quarter. Loudon Investment Management LLC boosted its holdings in Medtronic by 9.5% during the fourth quarter. Loudon Investment Management LLC now owns 10,026 shares of the medical technology company’s stock worth $786,000 after buying an additional 874 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in Medtronic during the fourth quarter worth $941,000. International Assets Investment Management LLC boosted its holdings in Medtronic by 8,340.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock worth $85,558,000 after buying an additional 1,026,274 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Medtronic by 69.3% during the third quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock worth $3,172,000 after buying an additional 16,574 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MDT shares. Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a report on Wednesday, June 5th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Friday, May 24th. Truist Financial lowered their price target on shares of Medtronic from $90.00 to $88.00 and set a “hold” rating on the stock in a report on Friday, May 24th. UBS Group increased their price target on shares of Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a report on Friday, May 24th. Finally, Wells Fargo & Company upped their price objective on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $93.00.

Insider Activity

In other news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, the executive vice president now owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Geoffrey Martha sold 19,113 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the completion of the sale, the chief executive officer now directly owns 143,348 shares in the company, valued at approximately $12,008,261.96. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Medtronic Trading Up 0.1 %

Medtronic stock traded up $0.08 during midday trading on Friday, hitting $78.71. 8,829,682 shares of the stock were exchanged, compared to its average volume of 6,333,922. The stock’s 50-day simple moving average is $81.85 and its 200 day simple moving average is $83.50. The company has a current ratio of 2.03, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.00. The stock has a market capitalization of $100.93 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 2.33 and a beta of 0.83.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.45 by $0.01. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The business had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the firm posted $1.57 earnings per share. The business’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities analysts anticipate that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a $0.70 dividend. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, June 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.56%. Medtronic’s dividend payout ratio (DPR) is presently 100.36%.

Medtronic Company 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.