Medtronic plc (NYSE:MDT) Shares Sold by First National Trust Co

First National Trust Co lowered its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 12.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,435 shares of the medical technology company's stock after selling 17,536 shares during the quarter. First National Trust Co's holdings in Medtronic were worth $9,921,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC bought a new stake in shares of Medtronic in the fourth quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. increased its stake in Medtronic by 293.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company's stock worth $26,000 after acquiring an additional 236,064 shares during the last quarter. Financial Gravity Asset Management Inc. raised its holdings in shares of Medtronic by 317.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company's stock worth $29,000 after acquiring an additional 279 shares in the last quarter. Princeton Global Asset Management LLC bought a new position in shares of Medtronic during the 3rd quarter valued at approximately $31,000. Finally, Hartford Financial Management Inc. grew its holdings in shares of Medtronic by 52.1% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the medical technology company's stock valued at $39,000 after purchasing an additional 164 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MDT shares. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $92.00 price target on shares of Medtronic in a research note on Wednesday, February 21st. Truist Financial increased their price target on shares of Medtronic from $87.00 to $90.00 and gave the company a "hold" rating in a report on Wednesday, February 21st. Mizuho boosted their price objective on Medtronic from $95.00 to $98.00 and gave the stock a "buy" rating in a research note on Wednesday, February 21st. Finally, Oppenheimer raised their price objective on Medtronic from $89.00 to $92.00 and gave the company a "market perform" rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $94.91.

Insider Activity

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

Medtronic Trading Up 1.0 %

MDT traded up $0.77 during trading hours on Friday, reaching $81.69. 4,987,236 shares of the company's stock traded hands, compared to its average volume of 6,078,836. The firm has a 50-day moving average price of $83.08 and a 200 day moving average price of $81.56. The firm has a market capitalization of $108.47 billion, a PE ratio of 26.02, a PEG ratio of 2.66 and a beta of 0.78. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $91.00.

Medtronic (NYSE:MDT - Get Free Report) last released 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 business had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The business's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $1.30 earnings per share. As a group, sell-side analysts predict that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Thursday, March 21st. Medtronic's dividend payout ratio (DPR) is presently 87.90%.

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.