Bangor Savings Bank Sells 212 Shares of Medtronic plc (NYSE:MDT)

Bangor Savings Bank reduced its stake in shares of Medtronic plc (NYSE:MDT) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,670 shares of the medical technology company’s stock after selling 212 shares during the period. Bangor Savings Bank’s holdings in Medtronic were worth $932,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fortitude Family Office LLC bought a new position in shares of Medtronic during the third quarter worth about $27,000. Darwin Wealth Management LLC bought a new position in Medtronic during the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic in the 3rd quarter worth approximately $27,000. J. Stern & Co. LLP bought a new stake in shares of Medtronic in the 3rd quarter valued at $30,000. Finally, Chelsea Counsel Co. acquired a new stake in shares of Medtronic during the third quarter worth $45,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Down 1.5 %

MDT opened at $79.77 on Tuesday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The firm has a market capitalization of $102.29 billion, a PE ratio of 24.39, a P/E/G ratio of 2.33 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The company’s 50-day moving average is $84.67 and its 200 day moving average is $84.93.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the prior year, the business posted $1.25 earnings per share. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, research analysts predict that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.51%. Medtronic’s payout ratio is 85.63%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MDT. Wells Fargo & Company cut their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Citigroup upped their target price on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Sanford C. Bernstein raised their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, Evercore ISI lifted their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $95.00.

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.