Americana Partners LLC Acquires 379 Shares of Medtronic plc (NYSE:MDT)

Americana Partners LLC increased its holdings in Medtronic plc (NYSE:MDT) by 5.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,884 shares of the medical technology company’s stock after purchasing an additional 379 shares during the period. Americana Partners LLC’s holdings in Medtronic were worth $550,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of MDT. OLD National Bancorp IN grew its stake in shares of Medtronic by 12.7% during the 3rd quarter. OLD National Bancorp IN now owns 10,938 shares of the medical technology company’s stock valued at $985,000 after purchasing an additional 1,230 shares during the period. Trilogy Capital Inc. grew its stake in shares of Medtronic by 4.9% during the 3rd quarter. Trilogy Capital Inc. now owns 4,082 shares of the medical technology company’s stock valued at $368,000 after purchasing an additional 192 shares during the period. Waterway Wealth Management LLC lifted its position in shares of Medtronic by 62.8% during the 3rd quarter. Waterway Wealth Management LLC now owns 4,493 shares of the medical technology company’s stock valued at $404,000 after buying an additional 1,734 shares in the last quarter. Precision Wealth Strategies LLC lifted its position in shares of Medtronic by 3.3% during the 3rd quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock valued at $337,000 after buying an additional 118 shares in the last quarter. Finally, Telos Capital Management Inc. lifted its position in shares of Medtronic by 2.0% during the 3rd quarter. Telos Capital Management Inc. now owns 123,358 shares of the medical technology company’s stock valued at $11,106,000 after buying an additional 2,402 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MDT has been the topic of a number of analyst reports. Truist Financial lowered their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Sanford C. Bernstein lifted their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Barclays lifted their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. lowered their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $95.00.

Medtronic Stock Down 7.3 %

Shares of MDT opened at $86.05 on Wednesday. The stock has a market capitalization of $110.34 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The business’s 50 day simple moving average is $85.69 and its 200-day simple moving average is $86.99. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. As a group, equities analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced 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 3.25%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was 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 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 document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.