First American Trust FSB Purchases Shares of 63,926 Medtronic plc (NYSE:MDT)

First American Trust FSB purchased a new stake in shares of Medtronic plc (NYSE:MDT) in the 4th quarter, Holdings Channel.com reports. The fund purchased 63,926 shares of the medical technology company’s stock, valued at approximately $5,106,000.

A number of other hedge funds also recently modified their holdings of MDT. Nicolet Advisory Services LLC increased its stake in shares of Medtronic by 10.5% in the third quarter. Nicolet Advisory Services LLC now owns 3,802 shares of the medical technology company’s stock valued at $334,000 after buying an additional 360 shares during the period. Cerity Partners LLC boosted its holdings in Medtronic by 43.1% in the third quarter. Cerity Partners LLC now owns 243,308 shares of the medical technology company’s stock valued at $21,910,000 after acquiring an additional 73,334 shares during the last quarter. Kingsview Wealth Management LLC increased its position in Medtronic by 11.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 20,949 shares of the medical technology company’s stock valued at $1,886,000 after purchasing an additional 2,197 shares during the period. Larson Financial Group LLC raised its holdings in Medtronic by 18.8% during the 3rd quarter. Larson Financial Group LLC now owns 24,675 shares of the medical technology company’s stock worth $2,221,000 after purchasing an additional 3,903 shares during the last quarter. Finally, Cahill Financial Advisors Inc. lifted its position in shares of Medtronic by 66.5% in the 3rd quarter. Cahill Financial Advisors Inc. now owns 5,480 shares of the medical technology company’s stock worth $493,000 after purchasing an additional 2,189 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity

In related news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Medtronic Price Performance

Shares of NYSE:MDT opened at $90.16 on Tuesday. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The stock’s 50 day moving average is $90.84 and its 200-day moving average is $88.05. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $115.64 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Sell-side analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio is currently 85.11%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Truist Financial decreased their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Barclays increased their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report 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 report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $96.07.

Medtronic Company 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.