Medtronic plc (NYSE:MDT) Shares Bought by Leith Wheeler Investment Counsel Ltd.

Leith Wheeler Investment Counsel Ltd. grew its holdings in Medtronic plc (NYSE:MDT) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 453,874 shares of the medical technology company’s stock after acquiring an additional 7,069 shares during the period. Medtronic comprises approximately 2.6% of Leith Wheeler Investment Counsel Ltd.’s holdings, making the stock its 8th biggest holding. Leith Wheeler Investment Counsel Ltd.’s holdings in Medtronic were worth $36,255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Morse Asset Management Inc acquired a new position in shares of Medtronic during the third quarter worth $225,000. Te Ahumairangi Investment Management Ltd increased its stake in Medtronic by 4.1% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 52,321 shares of the medical technology company’s stock worth $4,684,000 after buying an additional 2,050 shares during the period. Chelsea Counsel Co. acquired a new position in Medtronic in the 3rd quarter worth $45,000. Tudor Financial Inc. purchased a new position in Medtronic in the 3rd quarter valued at about $586,000. Finally, Anchor Investment Management LLC grew its stake in shares of Medtronic by 1.2% during the third quarter. Anchor Investment Management LLC now owns 107,518 shares of the medical technology company’s stock valued at $9,680,000 after acquiring an additional 1,271 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $83.98 on Tuesday. The company has a market cap of $107.71 billion, a P/E ratio of 25.53, a PEG ratio of 2.22 and a beta of 0.79. The business has a 50 day moving average of $88.08 and a two-hundred day moving average of $87.21. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

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

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.70 dividend. The ex-dividend date was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.33%. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MDT. Truist Financial reduced their price target on Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a report on Friday, April 11th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and raised their price target for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Finally, UBS Group boosted their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.