Central Pacific Bank Trust Division Buys 311 Shares of Medtronic plc (NYSE:MDT)

Central Pacific Bank Trust Division grew its stake in shares of Medtronic plc (NYSE:MDT) by 14.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,411 shares of the medical technology company’s stock after acquiring an additional 311 shares during the period. Central Pacific Bank Trust Division’s holdings in Medtronic were worth $217,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LifeSteps Financial Inc. bought a new stake in shares of Medtronic during the first quarter valued at approximately $27,000. Lynx Investment Advisory bought a new stake in shares of Medtronic during the second quarter valued at approximately $28,000. Tributary Capital Management LLC bought a new stake in shares of Medtronic during the first quarter valued at approximately $33,000. Riverview Trust Co bought a new stake in shares of Medtronic during the first quarter valued at approximately $39,000. Finally, Fortis Group Advisors LLC raised its stake in shares of Medtronic by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock valued at $38,000 after acquiring an additional 230 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on MDT. Robert W. Baird boosted their price objective on shares of Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Evercore ISI boosted their price objective on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday. Daiwa America raised shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Oppenheimer boosted their price objective on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. Finally, Truist Financial boosted 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 given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Medtronic currently has an average rating of “Hold” and an average price target of $94.21.

Medtronic Price Performance

Shares of MDT opened at $87.77 on Friday. The firm has a market capitalization of $112.54 billion, a PE ratio of 31.92, a price-to-earnings-growth ratio of 2.56 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $91.49. The company’s fifty day moving average price is $86.58 and its 200-day moving average price is $83.26.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The firm had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.20 earnings per share. On average, equities research analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

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.