Medtronic PLC (NYSE:MDT) Shares Sold by OLD Second National Bank of Aurora

OLD Second National Bank of Aurora lessened its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 96.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,233 shares of the medical technology company's stock after selling 35,070 shares during the quarter. OLD Second National Bank of Aurora's holdings in Medtronic were worth $111,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MDT. MONECO Advisors LLC boosted its stake in shares of Medtronic by 1.8% during the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock valued at $512,000 after buying an additional 115 shares during the last quarter. Dunhill Financial LLC increased its stake in shares of Medtronic by 17.2% in the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock worth $76,000 after buying an additional 124 shares during the last quarter. Faithward Advisors LLC raised its holdings in Medtronic by 2.7% in the fourth quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock valued at $403,000 after acquiring an additional 134 shares in the last quarter. Vestor Capital LLC raised its holdings in Medtronic by 0.3% in the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock valued at $4,104,000 after acquiring an additional 138 shares in the last quarter. Finally, L. Roy Papp & Associates LLP boosted its stake in Medtronic by 2.8% during the 1st quarter. L. Roy Papp & Associates LLP now owns 5,099 shares of the medical technology company's stock valued at $458,000 after acquiring an additional 138 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MDT has been the subject of several recent analyst reports. Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a report on Monday. Robert W. Baird decreased their price target on Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Mizuho cut their price objective on Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Truist Financial reduced their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Finally, Royal Bank Of Canada decreased their target price on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Medtronic presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.87.

Medtronic Stock Performance

Shares of NYSE MDT opened at $85.68 on Friday. Medtronic PLC has a 12-month low of $75.96 and a 12-month high of $96.25. The company has a market cap of $109.88 billion, a PE ratio of 23.67, a P/E/G ratio of 2.31 and a beta of 0.79. The stock has a 50 day simple moving average of $84.42 and a 200-day simple moving average of $86.26. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. The company had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The firm's quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 EPS. On average, equities research analysts forecast that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.71 per share. This is a boost from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date is Friday, June 27th. This represents a $2.84 annualized dividend and a yield of 3.31%. Medtronic's dividend payout ratio (DPR) is presently 77.35%.

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.

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