FineMark National Bank & Trust Has $6.02 Million Stake in Medtronic plc (NYSE:MDT)

FineMark National Bank & Trust reduced its stake in shares of Medtronic plc (NYSE:MDT) by 7.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,344 shares of the medical technology company’s stock after selling 6,133 shares during the period. FineMark National Bank & Trust’s holdings in Medtronic were worth $6,018,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MDT. Mainstream Capital Management LLC bought a new stake in shares of Medtronic in the 4th quarter valued at approximately $26,000. J. Stern & Co. LLP acquired a new position in shares of Medtronic during the 3rd quarter valued at about $30,000. Rakuten Securities Inc. raised its position in shares of Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 294 shares during the period. Stephens Consulting LLC lifted its position in Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 204 shares during the last quarter. Finally, Fiduciary Advisors Inc. bought a new stake in Medtronic during the 4th quarter valued at approximately $36,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Down 0.2 %

MDT stock opened at $90.16 on Tuesday. The business has a fifty day moving average price of $90.84 and a 200 day moving average price of $88.05. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The stock has a market capitalization of $115.64 billion, a price-to-earnings ratio of 27.40, a P/E/G ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. Medtronic’s dividend payout ratio (DPR) is currently 85.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MDT. Barclays increased their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Truist Financial decreased their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $96.07.

Insider Activity at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

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.