National Bank of Canada FI Has $19.06 Million Stock Holdings in Medtronic plc (NYSE:MDT)

National Bank of Canada FI lowered its holdings in shares of Medtronic plc (NYSE:MDT) by 12.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 230,130 shares of the medical technology company’s stock after selling 33,665 shares during the period. National Bank of Canada FI’s holdings in Medtronic were worth $19,057,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of MDT. Loudon Investment Management LLC boosted its stake in shares of Medtronic by 9.5% in the 4th quarter. Loudon Investment Management LLC now owns 10,026 shares of the medical technology company’s stock valued at $786,000 after purchasing an additional 874 shares in the last quarter. BKM Wealth Management LLC bought a new stake in shares of Medtronic during the fourth quarter worth $941,000. International Assets Investment Management LLC increased its holdings in shares of Medtronic by 8,340.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock worth $85,558,000 after buying an additional 1,026,274 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Medtronic by 69.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock valued at $3,172,000 after acquiring an additional 16,574 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Medtronic by 109,325.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 91,917 shares of the medical technology company’s stock valued at $7,572,000 after acquiring an additional 91,833 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on MDT. Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a research report on Wednesday, February 21st. Mizuho boosted their target price on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Truist Financial raised their price target on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Finally, Oppenheimer lifted their price target on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a report 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $94.91.

Medtronic Stock Up 0.1 %

Shares of Medtronic stock opened at $81.88 on Wednesday. The stock’s 50-day moving average is $83.01 and its 200 day moving average is $81.69. Medtronic plc has a one year low of $68.84 and a one year high of $91.00. The firm has a market cap of $108.72 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 2.66 and a beta of 0.78. 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) last announced its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.26 by $0.04. The company had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 EPS. Equities research analysts anticipate that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Thursday, March 21st. Medtronic’s payout ratio is 87.90%.

Insider Buying and Selling

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the sale, the executive vice president now owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Sean Salmon sold 30,695 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total value of $2,613,065.35. Following the sale, the executive vice president now owns 48,289 shares in the company, valued at approximately $4,110,842.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

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.