Medtronic plc (NYSE:MDT) Shares Bought by National Bank of Canada FI

National Bank of Canada FI boosted its holdings in shares of Medtronic plc (NYSE:MDT) by 13.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 261,325 shares of the medical technology company’s stock after purchasing an additional 31,195 shares during the period. National Bank of Canada FI’s holdings in Medtronic were worth $21,642,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MDT. MeadowBrook Investment Advisors LLC purchased a new position in Medtronic in the 4th quarter valued at $27,000. LifeSteps Financial Inc. purchased a new position in shares of Medtronic during the 1st quarter worth approximately $27,000. Tributary Capital Management LLC purchased a new position in Medtronic in the first quarter worth $33,000. Fortis Group Advisors LLC increased its holdings in Medtronic by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock valued at $38,000 after buying an additional 230 shares in the last quarter. Finally, Hartford Financial Management Inc. increased its stake in Medtronic by 52.1% in the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the medical technology company’s stock valued at $39,000 after purchasing an additional 164 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Medtronic

In other Medtronic news, CEO Geoffrey Martha sold 19,113 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 143,348 shares of the company’s stock, valued at approximately $12,008,261.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.30% of the company’s stock.

Medtronic Stock Performance

Medtronic stock traded up $0.14 during midday trading on Thursday, reaching $80.11. 3,064,235 shares of the stock traded hands, compared to its average volume of 6,308,042. The company has a current ratio of 2.03, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average price of $80.65 and a two-hundred day moving average price of $82.98. The firm has a market cap of $102.72 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 2.31 and a beta of 0.82. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.00.

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

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were issued 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 annualized dividend and a dividend yield of 3.50%. Medtronic’s dividend payout ratio (DPR) is 101.82%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MDT shares. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Friday, May 24th. UBS Group upped their price objective on Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a report on Friday, May 24th. The Goldman Sachs Group initiated coverage on shares of Medtronic in a research note on Thursday, May 30th. They set a “sell” rating and a $83.00 price objective for the company. Truist Financial reduced their price target on Medtronic from $88.00 to $85.00 and set a “hold” rating for the company in a report on Tuesday, July 16th. Finally, Wells Fargo & Company boosted their price objective on Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus target price of $90.90.

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.