Huntington National Bank Purchases 3,412 Shares of Medtronic plc (NYSE:MDT)

Huntington National Bank increased its holdings in shares of Medtronic plc (NYSE:MDT) by 2.7% in the fourth quarter, HoldingsChannel reports. The firm owned 127,597 shares of the medical technology company’s stock after buying an additional 3,412 shares during the period. Huntington National Bank’s holdings in Medtronic were worth $10,192,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of MDT. Columbia Asset Management bought a new position in shares of Medtronic during the 4th quarter worth approximately $4,284,000. Meeder Advisory Services Inc. lifted its holdings in Medtronic by 2.6% during the 4th quarter. Meeder Advisory Services Inc. now owns 18,604 shares of the medical technology company’s stock valued at $1,486,000 after purchasing an additional 479 shares during the last quarter. Knott David M Jr bought a new position in Medtronic during the fourth quarter worth $639,000. OV Management LLC raised its position in shares of Medtronic by 8.5% in the fourth quarter. OV Management LLC now owns 21,754 shares of the medical technology company’s stock valued at $1,738,000 after purchasing an additional 1,697 shares during the period. Finally, Boston Family Office LLC raised its position in shares of Medtronic by 1.5% in the fourth quarter. Boston Family Office LLC now owns 27,305 shares of the medical technology company’s stock valued at $2,181,000 after purchasing an additional 413 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

MDT opened at $88.97 on Thursday. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The business’s fifty day moving average is $91.04 and its 200-day moving average is $87.99. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The firm has a market cap of $114.11 billion, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80.

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

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s payout ratio is presently 85.11%.

Analyst Ratings Changes

Several brokerages recently commented on MDT. Truist Financial reduced their target price 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. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and upped their target price for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. Finally, UBS Group upped 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 analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $96.07.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was 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 directly owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.20% of the company’s stock.

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.