First Financial Corp IN Decreases Holdings in Medtronic plc (NYSE:MDT)

First Financial Corp IN trimmed its stake in Medtronic plc (NYSE:MDT) by 31.0% during the first quarter, Holdings Channel reports. The fund owned 391 shares of the medical technology company’s stock after selling 176 shares during the period. First Financial Corp IN’s holdings in Medtronic were worth $34,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Boyar Asset Management Inc. raised its stake in Medtronic by 2.6% in the fourth quarter. Boyar Asset Management Inc. now owns 4,655 shares of the medical technology company’s stock valued at $383,000 after purchasing an additional 120 shares in the last quarter. Marino Stram & Associates LLC raised its position in shares of Medtronic by 1.8% during the 4th quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock valued at $587,000 after buying an additional 126 shares in the last quarter. Angeles Investment Advisors LLC lifted its holdings in shares of Medtronic by 1.0% during the 4th quarter. Angeles Investment Advisors LLC now owns 12,627 shares of the medical technology company’s stock worth $1,046,000 after acquiring an additional 128 shares during the last quarter. Rogco LP grew its position in Medtronic by 1.9% in the fourth quarter. Rogco LP now owns 6,814 shares of the medical technology company’s stock worth $561,000 after acquiring an additional 129 shares in the last quarter. Finally, Verity Asset Management Inc. increased its stake in Medtronic by 4.3% in the fourth quarter. Verity Asset Management Inc. now owns 3,194 shares of the medical technology company’s stock valued at $263,000 after acquiring an additional 132 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a report on Wednesday, June 5th. The Goldman Sachs Group initiated coverage on shares of Medtronic in a research note on Thursday, May 30th. They set a “sell” rating and a $83.00 price target on the stock. Truist Financial cut their price objective on shares of Medtronic from $90.00 to $88.00 and set a “hold” rating for the company in a research note on Friday, May 24th. Wells Fargo & Company lifted their target price on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Friday, May 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $93.00.

Medtronic Trading Down 0.7 %

NYSE:MDT traded down $0.60 during mid-day trading on Wednesday, reaching $79.81. 2,095,543 shares of the company’s stock traded hands, compared to its average volume of 6,268,876. The company has a 50 day moving average price of $81.85 and a 200-day moving average price of $83.56. The firm has a market capitalization of $102.34 billion, a price-to-earnings ratio of 28.83, a PEG ratio of 2.34 and a beta of 0.83. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 1.55. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $91.00.

Medtronic (NYSE:MDT) last posted its earnings results on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.01. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The firm had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the previous year, the firm earned $1.57 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. On average, sell-side analysts predict that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a $0.70 dividend. The ex-dividend date is Friday, June 28th. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. This represents a $2.80 annualized dividend and a yield of 3.51%. Medtronic’s dividend payout ratio is 100.36%.

Insider Activity

In related news, EVP Michael Marinaro sold 854 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Geoffrey Martha sold 19,113 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the sale, the chief executive officer now owns 143,348 shares in the company, valued at approximately $12,008,261.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael Marinaro sold 854 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The disclosure for this sale can be found here. Insiders own 0.30% 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.