Bank of New Hampshire Has $164,000 Stake in Medtronic plc (NYSE:MDT)

Bank of New Hampshire trimmed its position in shares of Medtronic plc (NYSE:MDT) by 17.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,987 shares of the medical technology company’s stock after selling 410 shares during the period. Bank of New Hampshire’s holdings in Medtronic were worth $164,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MDT. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Medtronic by 12.0% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 93,397 shares of the medical technology company’s stock valued at $7,694,000 after acquiring an additional 10,018 shares during the period. Atria Wealth Solutions Inc. raised its stake in Medtronic by 5.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 87,349 shares of the medical technology company’s stock valued at $7,238,000 after purchasing an additional 4,672 shares in the last quarter. Wynn Capital LLC acquired a new position in Medtronic in the fourth quarter valued at about $202,000. Bfsg LLC acquired a new position in Medtronic in the fourth quarter valued at about $68,000. Finally, Millington Financial Advisors LLC acquired a new position in Medtronic in the fourth quarter valued at about $1,473,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Sean Salmon sold 30,695 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total value of $2,613,065.35. Following the transaction, the executive vice president now directly owns 48,289 shares in the company, valued at approximately $4,110,842.57. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Marinaro sold 854 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MDT. Mizuho boosted their price target on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research note on Wednesday, February 21st. Oppenheimer boosted their price target on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. Finally, Truist Financial boosted their target price on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $94.91.

Medtronic Trading Down 1.4 %

Shares of Medtronic stock traded down $1.13 on Thursday, hitting $79.25. The stock had a trading volume of 5,583,197 shares, compared to its average volume of 6,265,666. The stock has a 50 day moving average of $83.73 and a 200 day moving average of $81.14. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $92.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. The firm has a market capitalization of $105.23 billion, a P/E ratio of 25.22, a PEG ratio of 2.78 and a beta of 0.76.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.26 by $0.04. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The business had revenue of $8.09 billion for the quarter, compared to analysts’ expectations of $7.95 billion. During the same period in the prior year, the business posted $1.30 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts expect that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s payout ratio is 87.90%.

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.