Greenfield Savings Bank Sells 478 Shares of Medtronic plc (NYSE:MDT)

Greenfield Savings Bank lessened its stake in Medtronic plc (NYSE:MDT) by 9.8% during the fourth quarter, HoldingsChannel reports. The firm owned 4,408 shares of the medical technology company’s stock after selling 478 shares during the period. Greenfield Savings Bank’s holdings in Medtronic were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Federated Hermes Inc. raised its holdings in Medtronic by 5.7% during the 2nd quarter. Federated Hermes Inc. now owns 195,324 shares of the medical technology company’s stock valued at $15,374,000 after acquiring an additional 10,586 shares during the period. Thoroughbred Financial Services LLC increased its position in shares of Medtronic by 15.4% during the second quarter. Thoroughbred Financial Services LLC now owns 5,357 shares of the medical technology company’s stock valued at $421,000 after buying an additional 714 shares during the period. Bcwm LLC increased its holdings in shares of Medtronic by 3.3% in the second quarter. Bcwm LLC now owns 113,667 shares of the medical technology company’s stock worth $8,947,000 after purchasing an additional 3,601 shares during the period. Dimensional Fund Advisors LP boosted its stake in Medtronic by 7.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock valued at $560,494,000 after buying an additional 515,751 shares during the period. Finally, One Capital Management LLC bought a new position in Medtronic in the 2nd quarter worth about $245,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Up 1.3 %

Medtronic stock opened at $81.68 on Tuesday. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The business’s fifty day simple moving average is $83.83 and its two-hundred day simple moving average is $84.96. The company has a market capitalization of $104.74 billion, a price-to-earnings ratio of 24.98, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 earnings per share. As a group, equities analysts predict that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value 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 represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

MDT has been the subject of several recent analyst reports. Citigroup boosted their price objective on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. reduced their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Robert W. Baird lowered their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Evercore ISI increased their target price on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic 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.