Ledyard National Bank Increases Stock Holdings in Medtronic plc (NYSE:MDT)

Ledyard National Bank lifted its stake in shares of Medtronic plc (NYSE:MDT) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,740 shares of the medical technology company’s stock after buying an additional 3,918 shares during the quarter. Ledyard National Bank’s holdings in Medtronic were worth $5,828,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Marino Stram & Associates LLC grew its holdings in shares of Medtronic by 1.8% during the fourth quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock worth $587,000 after purchasing an additional 126 shares during the last quarter. Modera Wealth Management LLC increased its position in Medtronic by 3.9% during the third quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock worth $277,000 after buying an additional 133 shares during the period. jvl associates llc lifted its stake in Medtronic by 3.8% in the fourth quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock valued at $316,000 after buying an additional 139 shares during the last quarter. Dfpg Investments LLC boosted its holdings in shares of Medtronic by 0.3% in the fourth quarter. Dfpg Investments LLC now owns 53,045 shares of the medical technology company’s stock valued at $4,413,000 after acquiring an additional 142 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co grew its position in shares of Medtronic by 3.3% during the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 4,653 shares of the medical technology company’s stock worth $365,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE:MDT traded up $1.12 during trading hours on Monday, hitting $80.86. The company’s stock had a trading volume of 6,153,712 shares, compared to its average volume of 6,248,234. The company has a market capitalization of $107.37 billion, a PE ratio of 25.75, a PEG ratio of 2.73 and a beta of 0.76. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $92.02. The business’s 50-day moving average is $83.46 and its two-hundred day moving average is $81.32. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.04. The company had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.30 earnings per share. As a group, research analysts anticipate that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.69 per share. The ex-dividend date was Thursday, March 21st. This represents a $2.76 annualized dividend and a yield of 3.41%. Medtronic’s dividend payout ratio (DPR) is currently 87.90%.

Analyst Ratings Changes

A number of analysts recently weighed in on MDT shares. Truist Financial increased their price target on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. Mizuho increased their price objective on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Oppenheimer boosted their target price on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $94.91.

Insiders Place Their Bets

In other news, EVP Michael Marinaro sold 854 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sean Salmon sold 30,695 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total value of $2,613,065.35. Following the sale, the executive vice president now directly owns 48,289 shares in the company, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Medtronic 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.