First National Bank & Trust Co. of Newtown Lowers Position in Medtronic plc (NYSE:MDT)

First National Bank & Trust Co. of Newtown decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 14.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,473 shares of the medical technology company’s stock after selling 1,298 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in Medtronic were worth $597,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MDT. Fortitude Family Office LLC bought a new position in shares of Medtronic in the 3rd quarter worth $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Medtronic during the third quarter valued at about $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at about $27,000. Stephens Consulting LLC grew its position in shares of Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares during the last quarter. Finally, J. Stern & Co. LLP bought a new position in shares of Medtronic during the 3rd quarter worth approximately $30,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE MDT opened at $87.05 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The stock’s fifty day moving average is $85.82 and its two-hundred day moving average is $87.02. The firm has a market capitalization of $111.62 billion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 2.63 and a beta of 0.84. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $93.08.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. On average, research analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.22%. Medtronic’s payout ratio is 85.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MDT shares. JPMorgan Chase & Co. lowered their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Sanford C. Bernstein raised their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Truist Financial reduced their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Wells Fargo & Company lowered their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Robert W. Baird boosted their price target on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $95.20.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.

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.