Keybank National Association OH Sells 3,870 Shares of Medtronic plc (NYSE:MDT)

Keybank National Association OH lessened its holdings in Medtronic plc (NYSE:MDT) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,294 shares of the medical technology company’s stock after selling 3,870 shares during the quarter. Keybank National Association OH’s holdings in Medtronic were worth $10,648,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Mainstream Capital Management LLC acquired a new stake in shares of Medtronic during the 4th quarter valued at about $26,000. Commerzbank Aktiengesellschaft FI lifted its stake in Medtronic by 99.8% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 22,072 shares of the medical technology company’s stock worth $1,758,000 after purchasing an additional 11,023 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Medtronic by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,002,051 shares of the medical technology company’s stock valued at $639,204,000 after purchasing an additional 134,647 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Medtronic by 10.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 228,560 shares of the medical technology company’s stock valued at $18,257,000 after purchasing an additional 21,244 shares during the period. Finally, Schechter Investment Advisors LLC raised its holdings in shares of Medtronic by 48.0% in the 4th quarter. Schechter Investment Advisors LLC now owns 6,942 shares of the medical technology company’s stock worth $555,000 after buying an additional 2,252 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

Medtronic Stock Down 1.3 %

NYSE:MDT opened at $93.09 on Wednesday. The company has a market cap of $119.40 billion, a price-to-earnings ratio of 28.30, a P/E/G ratio of 2.22 and a beta of 0.84. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The stock’s fifty day moving average price is $87.57 and its two-hundred day moving average price is $87.63. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $95.57.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is 85.11%.

Analyst Upgrades and Downgrades

Several analysts recently commented on MDT shares. Truist Financial decreased their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Barclays boosted their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Wells Fargo & Company cut their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. UBS Group upped their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $96.07.

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.