Citizens National Bank Trust Department Sells 710 Shares of Medtronic plc (NYSE:MDT)

Citizens National Bank Trust Department lowered its stake in Medtronic plc (NYSE:MDT) by 3.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,464 shares of the medical technology company’s stock after selling 710 shares during the period. Citizens National Bank Trust Department’s holdings in Medtronic were worth $1,395,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MDT. Sequoia Financial Advisors LLC lifted its stake in Medtronic by 14.9% in the third quarter. Sequoia Financial Advisors LLC now owns 72,228 shares of the medical technology company’s stock valued at $6,503,000 after buying an additional 9,340 shares in the last quarter. Signaturefd LLC lifted its position in shares of Medtronic by 4.3% in the third quarter. Signaturefd LLC now owns 13,332 shares of the medical technology company’s stock worth $1,200,000 after purchasing an additional 551 shares in the last quarter. Eastern Bank acquired a new position in Medtronic during the third quarter worth $1,902,000. GAM Holding AG increased its holdings in Medtronic by 0.4% during the third quarter. GAM Holding AG now owns 109,330 shares of the medical technology company’s stock worth $9,843,000 after buying an additional 440 shares during the last quarter. Finally, Meadow Creek Wealth Advisors LLC increased its holdings in Medtronic by 5.9% during the third quarter. Meadow Creek Wealth Advisors LLC now owns 5,677 shares of the medical technology company’s stock worth $511,000 after buying an additional 318 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MDT. Royal Bank of Canada restated an “outperform” rating and set a $105.00 target price on shares of Medtronic in a report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Wednesday. Sanford C. Bernstein upped their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Robert W. Baird upped their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, UBS Group upped their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus price target of $95.20.

Medtronic Trading Up 1.1 %

MDT opened at $87.05 on Thursday. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08. The company has a 50-day simple moving average of $85.82 and a 200 day simple moving average of $87.02. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $111.62 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 2.44 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted 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. Medtronic had a net margin of 12.83% and a return on equity of 14.11%. The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Analysts predict that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.22%. Medtronic’s dividend payout ratio is 85.11%.

Insider Buying and Selling

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