UMB Bank n.a. Lowers Stock Holdings in Medtronic plc (NYSE:MDT)

UMB Bank n.a. lessened its holdings in Medtronic plc (NYSE:MDT) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 12,793 shares of the medical technology company’s stock after selling 330 shares during the period. UMB Bank n.a.’s holdings in Medtronic were worth $1,022,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MDT. Fortitude Family Office LLC bought a new stake in Medtronic during the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new stake in Medtronic during the 3rd quarter valued at approximately $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic during the third quarter valued at approximately $27,000. J. Stern & Co. LLP purchased a new position in shares of Medtronic in the third quarter worth $30,000. Finally, Kieckhefer Group LLC bought a new position in shares of Medtronic during the fourth quarter worth $40,000. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Performance

Shares of NYSE:MDT opened at $88.35 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The company has a market capitalization of $113.29 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 2.49 and a beta of 0.83. The firm’s 50-day moving average is $83.64 and its 200 day moving average is $85.29.

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

Medtronic Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MDT shares. Robert W. Baird reduced 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. JPMorgan Chase & Co. decreased their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Sanford C. Bernstein raised their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Evercore ISI upped their price objective on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $98.00 to $105.00 in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Medtronic has a consensus rating of “Hold” and an average target price of $95.00.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction 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 approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

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.