Community Trust & Investment Co. Purchases 552 Shares of Medtronic plc (NYSE:MDT)

Community Trust & Investment Co. raised its holdings in shares of Medtronic plc (NYSE:MDT) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,988 shares of the medical technology company’s stock after purchasing an additional 552 shares during the quarter. Community Trust & Investment Co.’s holdings in Medtronic were worth $3,034,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MDT. Oak Thistle LLC bought a new stake in Medtronic during the 4th quarter valued at $1,267,000. Pines Wealth Management LLC bought a new stake in shares of Medtronic during the 4th quarter valued at $310,000. SeaCrest Wealth Management LLC lifted its holdings in Medtronic by 3.3% during the 4th quarter. SeaCrest Wealth Management LLC now owns 7,967 shares of the medical technology company’s stock worth $636,000 after purchasing an additional 251 shares in the last quarter. Accurate Wealth Management LLC boosted its stake in Medtronic by 3.7% in the 4th quarter. Accurate Wealth Management LLC now owns 4,421 shares of the medical technology company’s stock worth $357,000 after purchasing an additional 159 shares during the period. Finally, Wynn Capital LLC grew its holdings in Medtronic by 10.1% during the 4th quarter. Wynn Capital LLC now owns 4,318 shares of the medical technology company’s stock valued at $345,000 after buying an additional 397 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

MDT opened at $85.16 on Wednesday. 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 stock’s 50 day simple moving average is $83.74 and its 200 day simple moving average is $85.01. The firm has a market cap of $109.20 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 2.33 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 issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 earnings per share. As a group, analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is 85.63%.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MDT has been the topic of several recent analyst reports. Wells Fargo & Company lowered their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Sanford C. Bernstein lifted their target price on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. cut their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company 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.