Legacy Private Trust Co. Sells 800 Shares of Medtronic plc (NYSE:MDT)


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Legacy Private Trust Co. reduced its holdings in shares of Medtronic plc (NYSE:MDT) by 13.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,313 shares of the medical technology company’s stock after selling 800 shares during the quarter. Legacy Private Trust Co.’s holdings in Medtronic were worth $628,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MDT. Price T Rowe Associates Inc. MD raised its stake in shares of Medtronic by 16.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,540,276 shares of the medical technology company’s stock valued at $2,406,046,000 after buying an additional 2,880,467 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Medtronic by 8.4% in the fourth quarter. Bank of New York Mellon Corp now owns 19,625,466 shares of the medical technology company’s stock valued at $2,298,927,000 after buying an additional 1,527,582 shares during the period. Wells Fargo & Company MN raised its stake in shares of Medtronic by 3.2% in the fourth quarter. Wells Fargo & Company MN now owns 15,459,976 shares of the medical technology company’s stock valued at $1,810,982,000 after buying an additional 473,712 shares during the period. Norges Bank bought a new stake in shares of Medtronic in the fourth quarter valued at $1,733,123,000. Finally, Morgan Stanley raised its stake in shares of Medtronic by 11.8% in the fourth quarter. Morgan Stanley now owns 11,560,485 shares of the medical technology company’s stock valued at $1,354,194,000 after buying an additional 1,221,333 shares during the period. Institutional investors and hedge funds own 79.17% of the company’s stock.

NYSE MDT opened at $122.00 on Monday. Medtronic plc has a 1-year low of $87.68 and a 1-year high of $122.05. The company has a current ratio of 2.16, a quick ratio of 1.79 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average of $117.69 and a 200-day moving average of $113.42. The firm has a market cap of $164.46 billion, a PE ratio of 46.57, a price-to-earnings-growth ratio of 3.65 and a beta of 0.70.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 23rd. The medical technology company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.14. Medtronic had a return on equity of 9.71% and a net margin of 12.69%. The company had revenue of $7.78 billion during the quarter, compared to analyst estimates of $7.77 billion. During the same quarter in the previous year, the company posted $1.44 EPS. Medtronic’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities research analysts forecast that Medtronic plc will post 4.21 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 16th. Stockholders of record on Friday, March 26th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, March 25th. Medtronic’s dividend payout ratio (DPR) is presently 50.54%.

MDT has been the topic of several research reports. Raymond James boosted their target price on Medtronic from $122.00 to $128.00 and gave the company an “outperform” rating in a research note on Wednesday, March 3rd. The Goldman Sachs Group upgraded Medtronic from a “sell” rating to a “neutral” rating and lifted their price target for the company from $100.00 to $119.00 in a research report on Tuesday, December 15th. Morgan Stanley upgraded Medtronic from an “equal weight” rating to an “overweight” rating and set a $140.00 price target for the company in a research report on Tuesday, December 15th. Cowen lifted their price target on Medtronic from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, February 24th. Finally, Credit Suisse Group lifted their price target on Medtronic from $126.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, March 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $122.78.

Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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