Zions Bancorporation National Association UT Has $1.08 Million Stake in Medtronic PLC $MDT

Zions Bancorporation National Association UT increased its stake in shares of Medtronic PLC (NYSE:MDT) by 691.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,305 shares of the medical technology company’s stock after purchasing an additional 9,877 shares during the quarter. Zions Bancorporation National Association UT’s holdings in Medtronic were worth $1,077,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC purchased a new position in shares of Medtronic during the 2nd quarter valued at $27,000. Corundum Trust Company INC acquired a new stake in Medtronic during the third quarter valued at $27,000. Valley Wealth Managers Inc. purchased a new position in Medtronic in the third quarter valued at about $29,000. Steigerwald Gordon & Koch Inc. purchased a new position in Medtronic in the third quarter valued at about $33,000. Finally, Tripletail Wealth Management LLC acquired a new position in Medtronic in the 3rd quarter worth about $34,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on MDT. Daiwa Securities Group boosted their price target on Medtronic from $104.00 to $117.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. UBS Group reissued a “neutral” rating and issued a $104.00 target price on shares of Medtronic in a research report on Wednesday, February 4th. The Goldman Sachs Group set a $111.00 price target on shares of Medtronic and gave the stock a “neutral” rating in a research note on Wednesday, November 19th. Wells Fargo & Company initiated coverage on shares of Medtronic in a research note on Friday, January 30th. They issued an “overweight” rating and a $114.00 price objective for the company. Finally, Truist Financial decreased their price objective on shares of Medtronic from $110.00 to $107.00 and set a “hold” rating for the company in a report on Thursday, December 18th. Sixteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and an average target price of $111.21.

Medtronic Stock Down 1.3%

MDT opened at $99.57 on Tuesday. The business has a 50 day moving average of $99.25 and a 200-day moving average of $96.53. The stock has a market capitalization of $127.65 billion, a price-to-earnings ratio of 26.84, a P/E/G ratio of 2.62 and a beta of 0.71. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 1-year low of $79.55 and a 1-year high of $106.33.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.33 by $0.03. The firm had revenue of $9.02 billion during the quarter, compared to analysts’ expectations of $8.89 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. As a group, sell-side analysts anticipate that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were given a $0.71 dividend. The ex-dividend date was Friday, December 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. Medtronic’s dividend payout ratio (DPR) is currently 76.55%.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).