Farmers National Bank Acquires 1,812 Shares of Medtronic plc (NYSE:MDT)

Farmers National Bank raised its holdings in Medtronic plc (NYSE:MDT) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,657 shares of the medical technology company’s stock after acquiring an additional 1,812 shares during the period. Farmers National Bank’s holdings in Medtronic were worth $3,515,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of MDT. J. W. Coons Advisors LLC bought a new position in Medtronic in the fourth quarter valued at approximately $210,000. CWA Asset Management Group LLC acquired a new position in Medtronic in the 4th quarter worth $376,000. First Trust Advisors LP increased its holdings in Medtronic by 2.4% during the 4th quarter. First Trust Advisors LP now owns 1,106,515 shares of the medical technology company’s stock worth $91,155,000 after purchasing an additional 26,023 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Medtronic by 346.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 180,717 shares of the medical technology company’s stock valued at $14,887,000 after purchasing an additional 140,241 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Medtronic by 0.3% in the fourth quarter. Oppenheimer & Co. Inc. now owns 216,392 shares of the medical technology company’s stock valued at $17,826,000 after purchasing an additional 644 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Trading Down 0.0 %

Shares of Medtronic stock opened at $89.99 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. The business has a fifty day simple moving average of $86.21 and a two-hundred day simple moving average of $83.19. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $91.49. The company has a market capitalization of $115.39 billion, a price-to-earnings ratio of 32.72, a P/E/G ratio of 2.56 and a beta of 0.84.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. The business had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. Medtronic’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.20 EPS. Research analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.11%. Medtronic’s payout ratio is currently 101.82%.

Analyst Ratings Changes

MDT has been the subject of a number of research reports. Robert W. Baird increased their price objective on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Wells Fargo & Company lifted their price objective on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Tuesday, August 20th. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Finally, Truist Financial increased their price objective on shares of Medtronic from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Medtronic has an average rating of “Hold” and a consensus target price of $94.21.

Medtronic 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.