Intrust Bank NA Sells 259 Shares of Medtronic plc (NYSE:MDT)

Intrust Bank NA trimmed its position in Medtronic plc (NYSE:MDT) by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,717 shares of the medical technology company’s stock after selling 259 shares during the quarter. Intrust Bank NA’s holdings in Medtronic were worth $718,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Accurate Wealth Management LLC grew its stake in shares of Medtronic by 9.9% in the third quarter. Accurate Wealth Management LLC now owns 4,583 shares of the medical technology company’s stock worth $334,000 after purchasing an additional 413 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Medtronic by 78.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 271,417 shares of the medical technology company’s stock worth $21,268,000 after acquiring an additional 119,258 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in Medtronic by 12.5% during the third quarter. Pinnacle Associates Ltd. now owns 95,738 shares of the medical technology company’s stock worth $7,502,000 after acquiring an additional 10,666 shares in the last quarter. Dakota Wealth Management increased its stake in shares of Medtronic by 12.1% during the third quarter. Dakota Wealth Management now owns 15,344 shares of the medical technology company’s stock valued at $1,202,000 after purchasing an additional 1,661 shares in the last quarter. Finally, Raymond James & Associates boosted its position in shares of Medtronic by 5.3% in the 3rd quarter. Raymond James & Associates now owns 6,126,429 shares of the medical technology company’s stock worth $480,067,000 after purchasing an additional 305,956 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Medtronic Stock Down 0.8 %

MDT opened at $80.25 on Wednesday. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $92.02. The firm’s 50 day simple moving average is $83.35 and its two-hundred day simple moving average is $81.38. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $106.56 billion, a PE ratio of 25.56, a PEG ratio of 2.77 and a beta of 0.76.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.26 by $0.04. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The firm had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter last year, the company earned $1.30 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts forecast that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is 87.90%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MDT. Mizuho increased their target price on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Truist Financial lifted their target price on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. Finally, Oppenheimer increased their target price on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Medtronic presently has an average rating of “Hold” and a consensus target price of $94.91.

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.