Busey Bank Increases Position in Medtronic plc (NYSE:MDT)

Busey Bank boosted its holdings in Medtronic plc (NYSE:MDT) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 155,084 shares of the medical technology company’s stock after purchasing an additional 2,289 shares during the quarter. Busey Bank’s holdings in Medtronic were worth $12,388,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Synergy Asset Management LLC grew its holdings in shares of Medtronic by 107.1% during the fourth quarter. Synergy Asset Management LLC now owns 227,802 shares of the medical technology company’s stock valued at $19,353,000 after buying an additional 117,809 shares during the last quarter. Gries Financial LLC purchased a new stake in shares of Medtronic during the fourth quarter valued at approximately $207,000. Franklin Parlapiano Turner & Welch LLC grew its holdings in shares of Medtronic by 0.8% during the fourth quarter. Franklin Parlapiano Turner & Welch LLC now owns 87,325 shares of the medical technology company’s stock valued at $6,975,000 after buying an additional 702 shares during the last quarter. Baader Bank Aktiengesellschaft grew its holdings in shares of Medtronic by 61.7% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 20,393 shares of the medical technology company’s stock valued at $1,629,000 after buying an additional 7,780 shares during the last quarter. Finally, Hanson & Doremus Investment Management grew its holdings in shares of Medtronic by 1.3% during the fourth quarter. Hanson & Doremus Investment Management now owns 48,804 shares of the medical technology company’s stock valued at $3,898,000 after buying an additional 639 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In other news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Truist Financial cut their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. JPMorgan Chase & Co. lowered their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Sanford C. Bernstein increased their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Barclays increased their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Medtronic has an average rating of “Hold” and a consensus target price of $95.00.

Medtronic Price Performance

Medtronic stock opened at $91.51 on Thursday. The stock has a market cap of $117.34 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83. The firm has a 50-day moving average of $83.99 and a two-hundred day moving average of $85.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating 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 firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the prior year, the business posted $1.25 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, research analysts forecast that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.06%. Medtronic’s payout ratio is 85.63%.

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.