First Bank & Trust Has $854,000 Position in Medtronic plc (NYSE:MDT)

First Bank & Trust reduced its position in shares of Medtronic plc (NYSE:MDT) by 48.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,798 shares of the medical technology company’s stock after selling 9,299 shares during the period. First Bank & Trust’s holdings in Medtronic were worth $854,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in Medtronic in the 4th quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. increased its stake in shares of Medtronic by 293.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 236,064 shares during the last quarter. MeadowBrook Investment Advisors LLC bought a new position in shares of Medtronic in the 4th quarter valued at $27,000. Financial Gravity Asset Management Inc. increased its stake in shares of Medtronic by 317.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 279 shares during the last quarter. Finally, Fortis Group Advisors LLC increased its stake in shares of Medtronic by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock valued at $38,000 after purchasing an additional 230 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Up 0.1 %

NYSE:MDT traded up $0.08 on Friday, hitting $78.71. The stock had a trading volume of 8,917,219 shares, compared to its average volume of 6,371,193. The business’s fifty day moving average is $81.85 and its 200 day moving average is $83.52. The company has a market cap of $100.93 billion, a PE ratio of 28.62, a P/E/G ratio of 2.31 and a beta of 0.83. The company has a quick ratio of 1.55, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $91.00.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.01. The business had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.44 billion. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.57 earnings per share. On average, equities research analysts expect that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Friday, June 28th. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s dividend payout ratio (DPR) is currently 101.82%.

Insider Activity

In related news, CEO Geoffrey Martha sold 19,113 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the completion of the sale, the chief executive officer now directly owns 143,348 shares of the company’s stock, valued at $12,008,261.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Geoffrey Martha sold 19,113 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the completion of the sale, the chief executive officer now directly owns 143,348 shares of the company’s stock, valued at $12,008,261.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MDT shares. Truist Financial decreased their price target on Medtronic from $90.00 to $88.00 and set a “hold” rating on the stock in a research note on Friday, May 24th. UBS Group lifted their price target on Medtronic from $75.00 to $76.00 and gave the company a “sell” rating in a research note on Friday, May 24th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Friday, May 24th. Wells Fargo & Company upped their target price on Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Finally, The Goldman Sachs Group initiated coverage on Medtronic in a report on Thursday, May 30th. They issued a “sell” rating and a $83.00 target price for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $93.00.

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.