Community Bank & Trust Waco Texas Raises Stock Position in Medtronic plc (NYSE:MDT)

Community Bank & Trust Waco Texas lifted its position in Medtronic plc (NYSE:MDT) by 26.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,599 shares of the medical technology company’s stock after buying an additional 3,854 shares during the period. Community Bank & Trust Waco Texas’ holdings in Medtronic were worth $1,532,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MDT. Marino Stram & Associates LLC increased its position in Medtronic by 1.8% during the fourth quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock worth $587,000 after purchasing an additional 126 shares during the last quarter. Modera Wealth Management LLC increased its position in shares of Medtronic by 3.9% during the third quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock valued at $277,000 after acquiring an additional 133 shares during the last quarter. jvl associates llc increased its position in shares of Medtronic by 3.8% during the fourth quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock valued at $316,000 after acquiring an additional 139 shares during the last quarter. Washington Trust Advisors Inc. increased its position in shares of Medtronic by 7.1% during the third quarter. Washington Trust Advisors Inc. now owns 2,102 shares of the medical technology company’s stock valued at $165,000 after acquiring an additional 140 shares during the last quarter. Finally, Dfpg Investments LLC increased its position in shares of Medtronic by 0.3% during the fourth quarter. Dfpg Investments LLC now owns 53,045 shares of the medical technology company’s stock valued at $4,413,000 after acquiring an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In other news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction 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 transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Medtronic news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the sale, the executive vice president now owns 48,289 shares in the company, valued at $4,110,842.57. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Medtronic Stock Down 1.0 %

Medtronic stock traded down $0.81 during trading on Wednesday, reaching $80.48. The stock had a trading volume of 1,748,960 shares, compared to its average volume of 6,229,944. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $92.02. The business has a 50 day moving average price of $83.80 and a 200 day moving average price of $81.14. 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 stock has a market cap of $106.86 billion, a PE ratio of 25.66, a P/E/G ratio of 2.76 and a beta of 0.76.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The company had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the previous year, the firm earned $1.30 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts predict that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were given a dividend of $0.69 per share. The ex-dividend date was Thursday, March 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.43%. Medtronic’s dividend payout ratio is presently 87.90%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Mizuho lifted their price target on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Oppenheimer lifted their price target 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 set a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. Finally, Truist Financial raised their price objective on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. One investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.91.

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.