Medtronic plc (NYSE:MDT) Shares Sold by Farmers & Merchants Trust Co of Chambersburg PA

Farmers & Merchants Trust Co of Chambersburg PA decreased its stake in shares of Medtronic plc (NYSE:MDT) by 24.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,235 shares of the medical technology company’s stock after selling 1,979 shares during the quarter. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Medtronic were worth $498,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. State Street Corp boosted its holdings in shares of Medtronic by 0.9% in the 3rd quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock valued at $5,509,155,000 after acquiring an additional 520,027 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Medtronic by 3.3% in the 3rd quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock valued at $772,727,000 after acquiring an additional 275,870 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Medtronic by 436.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock valued at $661,125,000 after acquiring an additional 5,975,110 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Medtronic by 2.3% in the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock valued at $575,460,000 after acquiring an additional 145,504 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Medtronic by 11.5% in the 3rd quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company’s stock valued at $530,612,000 after acquiring an additional 609,391 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity

In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Medtronic Trading Up 1.0 %

NYSE MDT opened at $92.27 on Friday. The firm has a 50 day simple moving average of $85.16 and a 200-day simple moving average of $86.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. Medtronic plc has a one year low of $75.96 and a one year high of $93.08. The firm has a market cap of $118.32 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted 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. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter last year, the firm posted $1.25 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MDT shares. Robert W. Baird lowered their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Truist Financial lowered their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Barclays increased their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock 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 issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $95.00.

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.