AMG National Trust Bank Has $4.15 Million Holdings in Medtronic plc (NYSE:MDT)

AMG National Trust Bank increased its position in Medtronic plc (NYSE:MDT - Free Report) by 148.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 50,325 shares of the medical technology company's stock after purchasing an additional 30,045 shares during the period. AMG National Trust Bank's holdings in Medtronic were worth $4,146,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC purchased a new stake in Medtronic in the 4th quarter worth approximately $25,000. MeadowBrook Investment Advisors LLC acquired a new stake in Medtronic during the fourth quarter valued at $27,000. Financial Gravity Asset Management Inc. grew its stake in Medtronic by 317.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company's stock valued at $29,000 after purchasing an additional 279 shares in the last quarter. Hartford Financial Management Inc. increased its position in Medtronic by 52.1% in the 4th quarter. Hartford Financial Management Inc. now owns 479 shares of the medical technology company's stock worth $39,000 after purchasing an additional 164 shares during the last quarter. Finally, Missouri Trust & Investment Co raised its stake in shares of Medtronic by 405.0% during the 4th quarter. Missouri Trust & Investment Co now owns 505 shares of the medical technology company's stock worth $42,000 after purchasing an additional 405 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on MDT. Royal Bank of Canada restated a "sector perform" rating and set a $92.00 price target on shares of Medtronic in a research note on Wednesday, February 21st. Oppenheimer raised 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. Truist Financial upped their price target on Medtronic from $87.00 to $90.00 and gave the stock a "hold" rating in a research note on Wednesday, February 21st. Finally, Mizuho raised their price objective on Medtronic from $95.00 to $98.00 and gave the company a "buy" rating in a research note on Wednesday, February 21st. One equities research 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's stock. According to MarketBeat, Medtronic currently has a consensus rating of "Hold" and an average target price of $94.91.

Insider Activity at Medtronic

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 completion of the transaction, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Medtronic news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the transaction, the executive vice president now directly owns 27,925 shares of the company's stock, valued at $2,321,684.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Sean Salmon sold 30,695 shares of the company's stock in a transaction dated 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 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 insiders.

Medtronic Stock Performance

Shares of NYSE MDT traded up $0.28 during mid-day trading on Friday, hitting $85.92. The company had a trading volume of 8,236,275 shares, compared to its average volume of 5,266,071. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $91.00. The firm has a market cap of $114.09 billion, a P/E ratio of 27.36, a PEG ratio of 2.79 and a beta of 0.78. The business's 50-day simple moving average is $82.91 and its 200-day simple moving average is $82.34. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data 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 return on equity of 13.71% and a net margin of 13.00%. Medtronic's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.30 EPS. As a group, analysts predict that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.21%. Medtronic's dividend payout ratio (DPR) is currently 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.

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