Hancock Whitney Corp Has $2.29 Million Stake in Medtronic plc (NYSE:MDT)

by · The Markets Daily

Hancock Whitney Corp lowered its stake in Medtronic plc (NYSE:MDT – Free Report) by 14.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,619 shares of the medical technology company’s stock after selling 4,788 shares during the period. Hancock Whitney Corp’s holdings in Medtronic were worth $2,286,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Medtronic in the 4th quarter valued at $1,163,580,000. Raymond James Financial Inc. acquired a new stake in Medtronic in the fourth quarter worth about $852,732,000. Beutel Goodman & Co Ltd. bought a new stake in Medtronic during the 4th quarter worth about $377,169,000. Van ECK Associates Corp lifted its position in Medtronic by 2,043.4% during the 4th quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock valued at $207,540,000 after purchasing an additional 2,476,935 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Medtronic by 17.8% in the 4th quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company’s stock valued at $1,233,769,000 after purchasing an additional 2,333,600 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on MDT. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. Robert W. Baird upped their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Truist Financial reduced their price target on Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and upped their price objective for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and a consensus price target of $96.14.

Read Our Latest Analysis on Medtronic

Medtronic Price Performance

NYSE MDT opened at $84.24 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The stock has a market cap of $108.04 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 2.22 and a beta of 0.79. The business has a 50 day simple moving average of $88.18 and a 200 day simple moving average of $87.29. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25.

Medtronic (NYSE:MDT – Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.32%. Medtronic’s dividend payout ratio (DPR) is 85.11%.

About Medtronic

(Free Report)

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.

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