Moody National Bank Trust Division Has $1.27 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Moody National Bank Trust Division boosted its position in shares of Medtronic plc (NYSE:MDT) by 2.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,089 shares of the medical technology company’s stock after purchasing an additional 388 shares during the period. Moody National Bank Trust Division’s holdings in Medtronic were worth $1,266,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MDT. Brighton Jones LLC increased its position in shares of Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after purchasing an additional 37,265 shares during the last quarter. Perigon Wealth Management LLC increased its position in Medtronic by 9.1% during the 4th quarter. Perigon Wealth Management LLC now owns 12,782 shares of the medical technology company’s stock worth $1,114,000 after buying an additional 1,062 shares during the period. SteelPeak Wealth LLC acquired a new stake in Medtronic in the 4th quarter worth about $210,000. Strategic Blueprint LLC raised its position in shares of Medtronic by 5.1% in the fourth quarter. Strategic Blueprint LLC now owns 8,594 shares of the medical technology company’s stock valued at $687,000 after buying an additional 414 shares in the last quarter. Finally, Foster & Motley Inc. raised its holdings in Medtronic by 30.2% in the 4th quarter. Foster & Motley Inc. now owns 32,643 shares of the medical technology company’s stock valued at $2,608,000 after acquiring an additional 7,567 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Up 0.8%

MDT stock opened at $83.03 on Friday. The stock’s 50 day simple moving average is $84.19 and its 200 day simple moving average is $86.20. The company has a market cap of $106.49 billion, a P/E ratio of 25.24, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. 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 plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.58 by $0.04. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. During the same period in the prior year, the business posted $1.46 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, research analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 27th. This is a positive change from Medtronic’s previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a dividend yield of 3.42%. Medtronic’s dividend payout ratio (DPR) is currently 78.45%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Truist Financial lowered their price objective on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, April 11th. Mizuho cut their target price on shares of Medtronic from $100.00 to $98.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, May 19th. Finally, Royal Bank of Canada decreased their price target on Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.00.

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.