City Holding Co. Has $1.45 Million Stock Position in Medtronic plc (NYSE:MDT)

by · The Cerbat Gem

City Holding Co. trimmed its holdings in shares of Medtronic plc (NYSE:MDT – Free Report) by 13.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,544 shares of the medical technology company’s stock after selling 2,917 shares during the period. City Holding Co.’s holdings in Medtronic were worth $1,453,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. PSI Advisors LLC raised its holdings in Medtronic by 18.0% in the 3rd quarter. PSI Advisors LLC now owns 1,004 shares of the medical technology company’s stock valued at $79,000 after acquiring an additional 153 shares in the last quarter. Courier Capital LLC grew its position in Medtronic by 0.5% during the 3rd quarter. Courier Capital LLC now owns 41,473 shares of the medical technology company’s stock worth $3,250,000 after acquiring an additional 188 shares during the last quarter. Strategic Advisors LLC boosted its position in Medtronic by 9.0% in the 3rd quarter. Strategic Advisors LLC now owns 36,280 shares of the medical technology company’s stock valued at $2,843,000 after buying an additional 3,001 shares during the last quarter. McKinley Carter Wealth Services Inc. boosted its position in Medtronic by 2.6% in the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 15,856 shares of the medical technology company’s stock valued at $1,242,000 after buying an additional 399 shares during the last quarter. Finally, Gilman Hill Asset Management LLC boosted its position in Medtronic by 4.1% in the 3rd quarter. Gilman Hill Asset Management LLC now owns 39,379 shares of the medical technology company’s stock valued at $3,086,000 after buying an additional 1,555 shares during the last quarter. 80.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MDT shares. Morgan Stanley reduced their price target on Medtronic from $104.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 22nd. StockNews.com started coverage on Medtronic in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $82.00 price target on shares of Medtronic in a research note on Wednesday, November 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.33.

Get Our Latest Stock Analysis on Medtronic

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 4,997 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $82.17, for a total value of $410,603.49. Following the transaction, the executive vice president now directly owns 28,910 shares of the company’s stock, valued at approximately $2,375,534.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.30% of the company’s stock.

Medtronic Stock Up 1.7 %

MDT stock opened at $81.96 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The company has a market cap of $108.98 billion, a price-to-earnings ratio of 26.70, a P/E/G ratio of 2.99 and a beta of 0.73. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $92.02. The business has a 50 day moving average price of $75.58 and a two-hundred day moving average price of $80.83.

Medtronic (NYSE:MDT – Get Free Report) last posted its earnings results on Tuesday, November 21st. The medical technology company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The business had revenue of $7.98 billion for the quarter, compared to analyst estimates of $7.93 billion. Medtronic had a return on equity of 13.73% and a net margin of 12.83%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.30 EPS. Analysts anticipate that Medtronic plc will post 5.16 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Wednesday, December 20th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Tuesday, December 19th. Medtronic’s dividend payout ratio is 89.90%.

Medtronic Profile

(Free Report)

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.

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