Bangor Savings Bank Sells 212 Shares of Medtronic plc (NYSE:MDT)

Bangor Savings Bank trimmed its holdings in shares of Medtronic plc (NYSE:MDT) by 1.8% during the fourth quarter, HoldingsChannel reports. The firm owned 11,670 shares of the medical technology company’s stock after selling 212 shares during the quarter. Bangor Savings Bank’s holdings in Medtronic were worth $932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in MDT. Fortitude Family Office LLC purchased a new position in shares of Medtronic during the 3rd quarter valued at $27,000. Darwin Wealth Management LLC bought a new position in Medtronic in the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic in the 3rd quarter valued at approximately $27,000. J. Stern & Co. LLP bought a new stake in Medtronic during the 3rd quarter valued at $30,000. Finally, Chelsea Counsel Co. purchased a new stake in shares of Medtronic during the third quarter worth $45,000. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Robert W. Baird reduced their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Evercore ISI upped their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Barclays upped their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. cut their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Medtronic has an average rating of “Hold” and a consensus target price of $95.00.

Medtronic Stock Down 1.5 %

MDT opened at $79.77 on Tuesday. The business’s fifty day simple moving average is $84.67 and its 200 day simple moving average is $84.93. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The stock has a market cap of $102.29 billion, a PE ratio of 24.39, a P/E/G ratio of 2.33 and a beta of 0.83.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.25 EPS. As a group, research analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.51%. Medtronic’s dividend payout ratio (DPR) is 85.63%.

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.