Simmons Bank Has $702,000 Stock Holdings in Medtronic plc (NYSE:MDT)

Simmons Bank lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 14.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,526 shares of the medical technology company’s stock after purchasing an additional 1,059 shares during the quarter. Simmons Bank’s holdings in Medtronic were worth $702,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC acquired a new position in shares of Medtronic during the 4th quarter valued at about $25,000. Leith Wheeler Investment Counsel Ltd. grew its holdings in Medtronic by 293.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 236,064 shares during the last quarter. MeadowBrook Investment Advisors LLC bought a new position in shares of Medtronic in the fourth quarter valued at approximately $27,000. Financial Gravity Asset Management Inc. lifted its stake in shares of Medtronic by 317.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock worth $29,000 after buying an additional 279 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Medtronic during the 3rd quarter worth $31,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

MDT stock traded down $0.17 during trading on Wednesday, hitting $81.73. The company had a trading volume of 3,109,080 shares, compared to its average volume of 6,148,341. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.00. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average price of $83.01 and a two-hundred day moving average price of $81.69. The company has a market cap of $108.52 billion, a P/E ratio of 26.01, a P/E/G ratio of 2.66 and a beta of 0.78.

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

Medtronic Announces Dividend

The business also recently disclosed 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 yield of 3.38%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s dividend payout ratio is currently 87.90%.

Insider Buying and Selling at Medtronic

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

Analyst Ratings Changes

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

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.