Medtronic plc (NYSE:MDT) Shares Sold by Peoples Bank KS

Peoples Bank KS lessened its position in Medtronic plc (NYSE:MDT) by 10.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,374 shares of the medical technology company’s stock after selling 1,240 shares during the period. Peoples Bank KS’s holdings in Medtronic were worth $829,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Diversified Trust Co grew its position in Medtronic by 1,160.9% in the 4th quarter. Diversified Trust Co now owns 78,753 shares of the medical technology company’s stock worth $6,291,000 after purchasing an additional 72,507 shares during the last quarter. CWA Asset Management Group LLC grew its holdings in Medtronic by 24.0% in the 4th quarter. CWA Asset Management Group LLC now owns 5,752 shares of the medical technology company’s stock worth $459,000 after buying an additional 1,113 shares in the last quarter. Nordea Investment Management AB increased its position in Medtronic by 1.0% in the 4th quarter. Nordea Investment Management AB now owns 2,819,486 shares of the medical technology company’s stock valued at $225,023,000 after acquiring an additional 27,695 shares during the period. Modus Advisors LLC bought a new stake in Medtronic during the 4th quarter valued at $55,000. Finally, Versant Capital Management Inc boosted its position in Medtronic by 15.4% during the 4th quarter. Versant Capital Management Inc now owns 1,788 shares of the medical technology company’s stock worth $143,000 after acquiring an additional 238 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of research analyst reports. Sanford C. Bernstein raised their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Truist Financial lowered their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Citigroup upped their price target on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Wells Fargo & Company lowered their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Stock Performance

Shares of MDT opened at $79.82 on Wednesday. The company has a 50-day moving average of $84.46 and a two-hundred day moving average of $84.92. The stock has a market cap of $102.35 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 2.33 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a one year low of $75.96 and a one year high of $92.68.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 EPS. On average, equities research analysts expect that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.51%. Medtronic’s payout ratio is presently 85.63%.

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.