UMB Bank n.a. Sells 330 Shares of Medtronic plc (NYSE:MDT)

UMB Bank n.a. cut its stake in Medtronic plc (NYSE:MDT) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,793 shares of the medical technology company’s stock after selling 330 shares during the period. UMB Bank n.a.’s holdings in Medtronic were worth $1,022,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the third quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic during the third quarter valued at $27,000. Darwin Wealth Management LLC purchased a new stake in shares of Medtronic in the 3rd quarter worth about $27,000. J. Stern & Co. LLP bought a new position in shares of Medtronic in the 3rd quarter worth about $30,000. Finally, Kieckhefer Group LLC purchased a new position in Medtronic during the 4th quarter valued at about $40,000. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.20% of the stock is currently owned by insiders.

Medtronic Stock Up 0.3 %

Shares of Medtronic stock opened at $88.35 on Wednesday. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. 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 company’s 50 day moving average is $83.64 and its 200 day moving average is $85.29. The company has a market cap of $113.29 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the prior year, the firm earned $1.25 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. Research analysts anticipate that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Analysts Set New Price Targets

A number of brokerages have weighed in on MDT. Evercore ISI upped their price objective on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Sanford C. Bernstein upped their price target on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. JPMorgan Chase & Co. cut their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Finally, Robert W. Baird dropped their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. One investment 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 has an average rating of “Hold” and a consensus target price of $95.00.

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.