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

Hancock Whitney Corp lessened its stake in shares of Medtronic plc (NYSE:MDT) by 14.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MDT. Vanguard Group Inc. raised its holdings in Medtronic by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company’s stock worth $9,921,367,000 after acquiring an additional 754,395 shares during the period. Capital Research Global Investors grew its position in shares of Medtronic by 1.8% in the fourth quarter. Capital Research Global Investors now owns 33,203,685 shares of the medical technology company’s stock valued at $2,652,310,000 after purchasing an additional 571,700 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Medtronic by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company’s stock worth $2,155,085,000 after purchasing an additional 574,055 shares during the period. Invesco Ltd. lifted its position in shares of Medtronic by 17.8% during the 4th quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company’s stock worth $1,233,769,000 after purchasing an additional 2,333,600 shares during the last quarter. Finally, Norges Bank bought a new stake in Medtronic during the 4th quarter valued at approximately $1,163,580,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of NYSE:MDT opened at $84.24 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The business’s fifty day moving average price is $88.18 and its two-hundred day moving average price is $87.29. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The stock has a market capitalization of $108.04 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. As a group, analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a $0.70 dividend. The ex-dividend date was Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.32%. Medtronic’s payout ratio is 85.11%.

Analyst Ratings Changes

A number of research analysts have recently commented on MDT shares. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and upped their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. UBS Group increased their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Truist Financial decreased their price target on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $96.14.

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.