Whittier Trust Co. Has $644,000 Stock Holdings in Medtronic plc (NYSE:MDT)

Whittier Trust Co. trimmed its position in Medtronic plc (NYSE:MDT) by 2.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 8,059 shares of the medical technology company’s stock after selling 184 shares during the period. Whittier Trust Co.’s holdings in Medtronic were worth $644,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Mainstream Capital Management LLC acquired a new position in shares of Medtronic in the 4th quarter valued at $26,000. J. Stern & Co. LLP acquired a new position in Medtronic in the third quarter valued at about $30,000. Rakuten Securities Inc. boosted its holdings in Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after buying an additional 294 shares during the last quarter. Stephens Consulting LLC grew its position in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares during the period. Finally, Fiduciary Advisors Inc. bought a new stake in shares of Medtronic in the 4th quarter valued at about $36,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Truist Financial reduced their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Robert W. Baird upped their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Barclays lifted their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and increased their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Finally, UBS Group lifted their price objective on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $96.07.

Medtronic Trading Down 0.9 %

Medtronic stock opened at $90.37 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm has a 50-day moving average of $90.67 and a 200-day moving average of $88.07. The company has a market cap of $115.90 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 2.22 and a beta of 0.80. Medtronic plc has a one year low of $75.96 and a one year high of $96.25.

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

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio is currently 85.11%.

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.