Chevy Chase Trust Holdings LLC Acquires 1,166 Shares of Medtronic plc (NYSE:MDT)

Chevy Chase Trust Holdings LLC boosted its holdings in Medtronic plc (NYSE:MDTGet Rating) by 0.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 812,059 shares of the medical technology company’s stock after buying an additional 1,166 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.06% of Medtronic worth $65,574,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Castle Wealth Management LLC acquired a new stake in Medtronic in the 2nd quarter valued at $28,000. IAG Wealth Partners LLC raised its position in shares of Medtronic by 58.1% during the third quarter. IAG Wealth Partners LLC now owns 351 shares of the medical technology company’s stock worth $28,000 after acquiring an additional 129 shares during the last quarter. Tortoise Investment Management LLC raised its position in shares of Medtronic by 53.2% during the second quarter. Tortoise Investment Management LLC now owns 357 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 124 shares during the last quarter. West Branch Capital LLC raised its position in shares of Medtronic by 84.8% during the second quarter. West Branch Capital LLC now owns 377 shares of the medical technology company’s stock worth $34,000 after acquiring an additional 173 shares during the last quarter. Finally, Fairfield Bush & CO. bought a new stake in Medtronic in the first quarter valued at about $47,000. 80.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on MDT. Deutsche Bank Aktiengesellschaft decreased their target price on Medtronic from $85.00 to $80.00 in a research note on Wednesday, November 23rd. StockNews.com began coverage on Medtronic in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Truist Financial decreased their target price on Medtronic from $89.00 to $84.00 in a research note on Wednesday, November 23rd. Barclays reduced their price objective on Medtronic from $90.00 to $85.00 and set an “equal weight” rating for the company in a research report on Friday, November 25th. Finally, Piper Sandler reduced their price objective on Medtronic from $90.00 to $80.00 in a research report on Tuesday, November 22nd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $94.25.

Insider Transactions at Medtronic

In other news, EVP Sean Salmon sold 16,631 shares of the stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $80.50, for a total transaction of $1,338,795.50. Following the transaction, the executive vice president now owns 36,088 shares in the company, valued at $2,905,084. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.29% of the stock is owned by corporate insiders.

Medtronic Price Performance

NYSE:MDT opened at $80.10 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.76 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average price is $78.88 and its two-hundred day moving average price is $84.57. The firm has a market capitalization of $106.55 billion, a price-to-earnings ratio of 25.09, a P/E/G ratio of 2.02 and a beta of 0.72. Medtronic plc has a 12-month low of $75.76 and a 12-month high of $114.31.

Medtronic (NYSE:MDTGet Rating) last released its quarterly earnings data on Tuesday, November 22nd. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.02. The firm had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.70 billion. Medtronic had a return on equity of 13.52% and a net margin of 14.03%. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.32 earnings per share. On average, analysts anticipate that Medtronic plc will post 5.26 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Wednesday, December 21st were paid a dividend of $0.68 per share. The ex-dividend date was Tuesday, December 20th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.40%. Medtronic’s dividend payout ratio (DPR) is currently 84.47%.

Medtronic Company Profile

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Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiovascular Porrtfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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