Wesbanco Bank Inc. Has $1.51 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Wesbanco Bank Inc. lowered its holdings in shares of Medtronic plc (NYSE:MDT) by 5.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,914 shares of the medical technology company’s stock after selling 1,154 shares during the period. Wesbanco Bank Inc.’s holdings in Medtronic were worth $1,511,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Copley Financial Group Inc. bought a new stake in shares of Medtronic in the 3rd quarter valued at $694,000. Olstein Capital Management L.P. increased its stake in Medtronic by 19.2% in the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock valued at $7,833,000 after purchasing an additional 14,000 shares in the last quarter. Franklin Street Advisors Inc. NC raised its holdings in shares of Medtronic by 32.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock valued at $5,873,000 after purchasing an additional 18,057 shares during the period. Y Intercept Hong Kong Ltd boosted its position in shares of Medtronic by 322.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock worth $6,626,000 after purchasing an additional 56,178 shares in the last quarter. Finally, Czech National Bank grew its stake in shares of Medtronic by 6.4% in the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock valued at $22,212,000 after buying an additional 16,786 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Medtronic Trading Up 1.7 %

Shares of Medtronic stock opened at $89.30 on Friday. The stock has a fifty day moving average price of $83.64 and a 200-day moving average price of $85.39. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The firm has a market cap of $114.51 billion, a PE ratio of 27.31, a P/E/G ratio of 2.50 and a beta of 0.83. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68.

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

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

Analysts Set New Price Targets

Several research analysts have issued reports on MDT shares. Robert W. Baird cut their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Evercore ISI lifted their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, Sanford C. Bernstein upped their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $95.00.

Medtronic Company 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.