Webster Bank N. A. Has $1.94 Million Holdings in Medtronic plc (NYSE:MDT)

Webster Bank N. A. decreased its stake in Medtronic plc (NYSE:MDT) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,042 shares of the medical technology company’s stock after selling 524 shares during the quarter. Webster Bank N. A.’s holdings in Medtronic were worth $1,942,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Sageworth Trust Co acquired a new position in Medtronic in the 1st quarter valued at $26,000. Laurel Wealth Advisors LLC boosted its holdings in Medtronic by 250.0% in the 1st quarter. Laurel Wealth Advisors LLC now owns 350 shares of the medical technology company’s stock valued at $28,000 after purchasing an additional 250 shares during the period. Trivant Custom Portfolio Group LLC acquired a new stake in Medtronic in the 1st quarter worth $31,000. Certified Advisory Corp bought a new position in shares of Medtronic during the 1st quarter worth about $31,000. Finally, Tucker Asset Management LLC acquired a new position in shares of Medtronic during the first quarter valued at about $32,000. Institutional investors own 80.75% of the company’s stock.

Medtronic Price Performance

Shares of MDT stock traded down $0.35 during trading hours on Tuesday, reaching $82.45. 2,179,508 shares of the company were exchanged, compared to its average volume of 5,680,592. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.42 and a quick ratio of 1.79. The company has a market cap of $109.70 billion, a price-to-earnings ratio of 30.54, a P/E/G ratio of 2.87 and a beta of 0.71. The stock’s fifty day moving average is $84.16 and its two-hundred day moving average is $84.35. Medtronic plc has a fifty-two week low of $75.76 and a fifty-two week high of $92.02.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.09. The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.57 billion. Medtronic had a return on equity of 13.81% and a net margin of 11.47%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $1.13 EPS. Sell-side analysts forecast that Medtronic plc will post 5.12 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 22nd will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.76 dividend on an annualized basis and a yield of 3.35%. Medtronic’s payout ratio is presently 101.85%.

Wall Street Analyst Weigh In

A number of brokerages have commented on MDT. CL King initiated coverage on Medtronic in a research report on Friday, June 30th. They issued a “buy” rating and a $106.00 price objective for the company. Mizuho lifted their price target on shares of Medtronic from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. Sanford C. Bernstein dropped their price objective on shares of Medtronic from $100.00 to $99.00 in a research note on Friday, May 26th. StockNews.com lowered shares of Medtronic from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 7th. Finally, Oppenheimer reissued a “market perform” rating and issued a $89.00 price target on shares of Medtronic in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $91.67.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 2,000 shares of the firm’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $87.97, for a total transaction of $175,940.00. Following the transaction, the executive vice president now owns 23,948 shares in the company, valued at $2,106,705.56. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Michael Marinaro sold 1,352 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $84.11, for a total transaction of $113,716.72. Following the sale, the executive vice president now owns 28,930 shares of the company’s stock, valued at $2,433,302.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Brett A. Wall sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $87.97, for a total value of $175,940.00. Following the completion of the transaction, the executive vice president now owns 23,948 shares of the company’s stock, valued at $2,106,705.56. The disclosure for this sale can be found here. Insiders have sold 19,866 shares of company stock worth $1,688,839 over the last ninety days. Company insiders own 0.30% of the company’s stock.

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.