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

Intrust Bank NA cut its holdings in Medtronic plc (NYSE:MDT) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,717 shares of the medical technology company’s stock after selling 259 shares during the period. Intrust Bank NA’s holdings in Medtronic were worth $718,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Accurate Wealth Management LLC boosted its holdings in shares of Medtronic by 9.9% in the 3rd quarter. Accurate Wealth Management LLC now owns 4,583 shares of the medical technology company’s stock valued at $334,000 after buying an additional 413 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Medtronic by 78.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 271,417 shares of the medical technology company’s stock valued at $21,268,000 after acquiring an additional 119,258 shares during the last quarter. Pinnacle Associates Ltd. grew its position in shares of Medtronic by 12.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 95,738 shares of the medical technology company’s stock valued at $7,502,000 after acquiring an additional 10,666 shares during the period. Dakota Wealth Management increased its stake in shares of Medtronic by 12.1% during the 3rd quarter. Dakota Wealth Management now owns 15,344 shares of the medical technology company’s stock worth $1,202,000 after purchasing an additional 1,661 shares during the last quarter. Finally, Raymond James & Associates raised its holdings 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 valued at $480,067,000 after purchasing an additional 305,956 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

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

Medtronic Trading Down 0.8 %

MDT stock opened at $80.25 on Wednesday. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $92.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. The company’s 50-day simple moving average is $83.35 and its 200 day simple moving average is $81.38. The company has a market capitalization of $106.56 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 2.77 and a beta of 0.76.

Medtronic (NYSE:MDT) last announced its 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. The firm had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.30 EPS. As a group, sell-side analysts anticipate that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently announced 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 of this dividend was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.44%. Medtronic’s payout ratio is 87.90%.

Analysts Set New Price Targets

MDT has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. Oppenheimer increased their price target on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. Mizuho lifted their price objective on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a research report on Wednesday, February 21st. One equities research 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 data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus price target of $94.91.

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.