Stock Yards Bank & Trust Co. Has $1.30 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Stock Yards Bank & Trust Co. trimmed its position in shares of Medtronic plc (NYSE:MDT) by 12.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,460 shares of the medical technology company’s stock after selling 2,036 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Medtronic were worth $1,302,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the third quarter valued at $27,000. Highline Wealth Partners LLC bought a new stake in Medtronic in the 3rd quarter valued at $27,000. Darwin Wealth Management LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at $27,000. J. Stern & Co. LLP bought a new position in shares of Medtronic during the 3rd quarter worth about $30,000. Finally, Chelsea Counsel Co. acquired a new stake in shares of Medtronic during the 3rd quarter valued at about $45,000. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on MDT shares. Robert W. Baird dropped their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Oppenheimer increased their target price on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Daiwa America raised Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Evercore ISI upped their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, Citigroup lifted their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus target price of $95.27.

Medtronic Price Performance

Shares of MDT stock opened at $82.73 on Friday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The firm’s 50 day moving average is $87.87 and its 200-day moving average is $85.00. The firm has a market capitalization of $106.08 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 2.35 and a beta of 0.82.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. Medtronic’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 EPS. Sell-side analysts forecast that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.38%. The ex-dividend date is Friday, December 27th. Medtronic’s dividend payout ratio is 85.63%.

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.