NBT Bank N A NY Sells 12,187 Shares of Medtronic PLC (NYSE:MDT)

NBT Bank N A NY decreased its holdings in Medtronic PLC (NYSE:MDT - Free Report) by 42.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,779 shares of the medical technology company's stock after selling 12,187 shares during the quarter. NBT Bank N A NY's holdings in Medtronic were worth $1,508,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in MDT. Mainstream Capital Management LLC acquired a new position in Medtronic in the fourth quarter worth about $26,000. Burkett Financial Services LLC boosted its holdings in Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after purchasing an additional 185 shares in the last quarter. Rakuten Securities Inc. grew its stake in shares of Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 294 shares during the period. Wood Tarver Financial Group LLC bought a new stake in shares of Medtronic in the 4th quarter valued at approximately $27,000. Finally, Optiver Holding B.V. acquired a new position in shares of Medtronic in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Performance

Shares of Medtronic stock opened at $86.19 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The firm has a 50 day simple moving average of $84.35 and a 200 day simple moving average of $86.27. Medtronic PLC has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The firm has a market cap of $110.54 billion, a P/E ratio of 23.81, a P/E/G ratio of 2.37 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.04. The firm had revenue of $8.93 billion for 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 business's quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $1.46 EPS. Sell-side analysts predict that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 27th. This is an increase from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a yield of 3.30%. Medtronic's dividend payout ratio is presently 77.35%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MDT. UBS Group boosted their price target on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Truist Financial reduced their target price on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a report on Monday. Wall Street Zen downgraded shares of Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and boosted their price target for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $97.87.

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.

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.