Camden National Bank Cuts Stake in Medtronic plc (NYSE:MDT)

Camden National Bank lessened its holdings in Medtronic plc (NYSE:MDT) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 124,756 shares of the medical technology company’s stock after selling 2,552 shares during the period. Medtronic makes up approximately 1.5% of Camden National Bank’s portfolio, making the stock its 27th largest position. Camden National Bank’s holdings in Medtronic were worth $9,966,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MDT. Darwin Wealth Management LLC purchased a new position in Medtronic in the third quarter valued at $27,000. Mainstream Capital Management LLC acquired a new stake in Medtronic in the 4th quarter valued at about $26,000. J. Stern & Co. LLP acquired a new stake in Medtronic in the 3rd quarter valued at about $30,000. Stephens Consulting LLC boosted its stake in shares of Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after buying an additional 204 shares during the period. Finally, Fiduciary Advisors Inc. acquired a new position in shares of Medtronic during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. UBS Group increased their target price on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and increased their target price for the company from $92.00 to $107.00 in a research report on Tuesday. Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Robert W. Baird raised their price objective on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $96.07.

Medtronic Trading Up 1.6 %

NYSE:MDT opened at $94.58 on Friday. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $95.57. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The stock’s 50 day simple moving average is $88.33 and its 200-day simple moving average is $87.78. The firm has a market cap of $121.30 billion, a P/E ratio of 28.75, a PEG ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. Equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 2.96%. Medtronic’s payout ratio is currently 85.11%.

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

About Medtronic

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.