UMB Bank n.a. Purchases 61,283 Shares of Medtronic plc (NYSE:MDT)

UMB Bank n.a. boosted its position in Medtronic plc (NYSE:MDT - Free Report) by 479.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 74,076 shares of the medical technology company's stock after acquiring an additional 61,283 shares during the period. UMB Bank n.a.'s holdings in Medtronic were worth $6,656,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC lifted its stake in shares of Medtronic by 2.7% during the 4th quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company's stock valued at $8,453,000 after buying an additional 2,778 shares in the last quarter. Equitable Trust Co. raised its holdings in Medtronic by 91.7% during the 4th quarter. Equitable Trust Co. now owns 39,645 shares of the medical technology company's stock valued at $3,167,000 after acquiring an additional 18,968 shares during the period. TCTC Holdings LLC lifted its position in shares of Medtronic by 3.4% during the fourth quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company's stock worth $3,173,000 after acquiring an additional 1,301 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock worth $3,194,000 after acquiring an additional 37,265 shares during the period. Finally, Oxford Asset Management LLP boosted its holdings in shares of Medtronic by 70.1% in the fourth quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company's stock worth $594,000 after acquiring an additional 3,068 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MDT has been the topic of a number of recent research reports. Mizuho dropped their price objective on Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Robert W. Baird lowered their price target on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Friday. Truist Financial decreased their target price on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Finally, Wall Street Zen downgraded shares of Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Medtronic currently has an average rating of "Moderate Buy" and a consensus target price of $97.00.

Medtronic Trading Up 0.4%

Shares of MDT stock opened at $87.38 on Monday. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The firm has a market cap of $112.07 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. The business has a 50-day moving average price of $83.92 and a two-hundred day moving average price of $86.19. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. During the same quarter in the previous year, the company posted $1.46 EPS. Medtronic's quarterly revenue was up 3.9% compared to the same quarter last year. Equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a $0.71 dividend. 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 annualized dividend and a yield of 3.25%. Medtronic's payout ratio is currently 78.45%.

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.

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