Sabal Trust CO Lowers Position in Medtronic plc (NYSE:MDT)

Sabal Trust CO trimmed its position in Medtronic plc (NYSE:MDT) by 2.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 358,508 shares of the medical technology company’s stock after selling 9,676 shares during the period. Medtronic comprises 1.7% of Sabal Trust CO’s investment portfolio, making the stock its 20th largest position. Sabal Trust CO’s holdings in Medtronic were worth $28,638,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MDT. Fortitude Family Office LLC purchased a new stake in shares of Medtronic in the 3rd quarter worth about $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC bought a new stake in Medtronic during the third quarter worth about $27,000. J. Stern & Co. LLP purchased a new stake in Medtronic in the third quarter worth about $30,000. Finally, Stephens Consulting LLC increased its stake in shares of Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 204 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.4 %

Shares of Medtronic stock opened at $90.57 on Wednesday. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The company’s 50 day moving average is $86.44 and its 200 day moving average is $87.30. The company has a market cap of $116.13 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84.

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

Medtronic Dividend Announcement

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. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.09%. Medtronic’s payout ratio is 85.11%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MDT shares. Wells Fargo & Company dropped their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. UBS Group increased their target price on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Truist Financial cut their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $95.00.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

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.