Peoples Bank KS Has $965,000 Stake in Medtronic plc (NYSE:MDT)

Peoples Bank KS reduced its stake in Medtronic plc (NYSE:MDT) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,259 shares of the medical technology company’s stock after selling 270 shares during the quarter. Peoples Bank KS’s holdings in Medtronic were worth $965,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in Medtronic by 2.5% in the 4th quarter. International Assets Investment Management LLC now owns 12,607 shares of the medical technology company’s stock valued at $1,039,000 after purchasing an additional 302 shares during the period. GHP Investment Advisors Inc. increased its stake in Medtronic by 3.1% during the fourth quarter. GHP Investment Advisors Inc. now owns 38,741 shares of the medical technology company’s stock valued at $3,191,000 after acquiring an additional 1,149 shares during the period. Sapient Capital LLC acquired a new position in Medtronic in the 4th quarter valued at approximately $936,000. Hartford Financial Management Inc. grew its holdings in shares of Medtronic by 52.1% during the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the medical technology company’s stock worth $39,000 after purchasing an additional 164 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of Medtronic during the fourth quarter valued at approximately $60,000. Institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In other Medtronic news, CEO Geoffrey Martha sold 19,113 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $83.77, for a total value of $1,601,096.01. Following the completion of the sale, the chief executive officer now owns 143,348 shares of the company’s stock, valued at $12,008,261.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wells Fargo & Company raised their target price on Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. The Goldman Sachs Group began coverage on shares of Medtronic in a report on Thursday, May 30th. They set a “sell” rating and a $83.00 price objective for the company. Citigroup lowered their target price on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a research note on Wednesday, July 17th. Finally, UBS Group raised their target price on Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a research report on Friday, May 24th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $90.90.

Medtronic Trading Down 1.0 %

MDT traded down $0.85 during trading on Monday, reaching $81.19. 3,347,171 shares of the company’s stock were exchanged, compared to its average volume of 6,261,580. The company’s fifty day moving average price is $80.00 and its 200-day moving average price is $82.42. The firm has a market capitalization of $104.11 billion, a PE ratio of 29.52, a P/E/G ratio of 2.35 and a beta of 0.82. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $89.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.03.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.01. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The business had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the previous year, the firm earned $1.57 earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year. As a group, equities analysts forecast that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a $0.70 dividend. The ex-dividend date was Friday, June 28th. This is a boost from Medtronic’s previous quarterly dividend of $0.69. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.45%. Medtronic’s dividend payout ratio is 101.82%.

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.