Medtronic plc (NYSE:MDT) Shares Acquired by Hilltop National Bank

Hilltop National Bank grew its position in Medtronic plc (NYSE:MDT) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,781 shares of the medical technology company’s stock after purchasing an additional 424 shares during the quarter. Hilltop National Bank’s holdings in Medtronic were worth $1,820,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Fortitude Family Office LLC acquired a new stake in shares of Medtronic in the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC purchased a new stake in Medtronic in the third quarter valued at approximately $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic in the third quarter valued at approximately $27,000. J. Stern & Co. LLP purchased a new position in shares of Medtronic during the third quarter worth approximately $30,000. Finally, Chelsea Counsel Co. acquired a new position in shares of Medtronic in the 3rd quarter valued at $45,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of NYSE MDT traded down $1.52 during midday trading on Friday, hitting $81.16. The company had a trading volume of 2,149,798 shares, compared to its average volume of 6,563,060. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The business has a 50-day simple moving average of $84.17 and a two-hundred day simple moving average of $84.89. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The firm has a market capitalization of $104.07 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83.

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

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MDT shares. JPMorgan Chase & Co. decreased their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Citigroup boosted their price target on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Robert W. Baird decreased their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Finally, Barclays boosted their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $95.00.

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.