Intrust Bank NA Increases Stock Holdings in Medtronic PLC $MDT

Intrust Bank NA lifted its holdings in Medtronic PLC (NYSE:MDT) by 9.6% in the second quarter, HoldingsChannel reports. The firm owned 7,679 shares of the medical technology company’s stock after buying an additional 674 shares during the quarter. Intrust Bank NA’s holdings in Medtronic were worth $669,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. 1248 Management LLC purchased a new stake in shares of Medtronic during the first quarter worth $26,000. Twin Tree Management LP acquired a new position in Medtronic during the 1st quarter worth $29,000. Activest Wealth Management increased its holdings in Medtronic by 3,577.8% during the 1st quarter. Activest Wealth Management now owns 331 shares of the medical technology company’s stock worth $30,000 after purchasing an additional 322 shares during the period. Investment Management Corp VA ADV raised its position in Medtronic by 144.2% in the 1st quarter. Investment Management Corp VA ADV now owns 403 shares of the medical technology company’s stock valued at $36,000 after purchasing an additional 238 shares in the last quarter. Finally, GFG Capital LLC purchased a new position in shares of Medtronic in the 2nd quarter valued at about $36,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MDT has been the topic of a number of recent research reports. UBS Group upped their target price on shares of Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Robert W. Baird lifted their price objective on shares of Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Wells Fargo & Company lifted their price target on Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Finally, Stifel Nicolaus upped their price objective on Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $103.06.

Insider Activity at Medtronic

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the stock in a transaction on Monday, August 25th. The shares were bought at an average cost of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.26% of the stock is currently owned by corporate insiders.

Medtronic Stock Performance

NYSE MDT opened at $96.52 on Tuesday. The company has a fifty day moving average of $94.51 and a two-hundred day moving average of $90.52. The company has a market capitalization of $123.80 billion, a PE ratio of 26.59, a P/E/G ratio of 2.42 and a beta of 0.77. Medtronic PLC has a 1 year low of $79.29 and a 1 year high of $99.37. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.23 EPS. As a group, analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

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.