Todd Asset Management LLC Raises Position in Medtronic PLC $MDT

Todd Asset Management LLC increased its holdings in Medtronic PLC (NYSE:MDT) by 10.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 767,205 shares of the medical technology company’s stock after purchasing an additional 75,608 shares during the quarter. Medtronic accounts for 1.4% of Todd Asset Management LLC’s investment portfolio, making the stock its 13th biggest position. Todd Asset Management LLC owned 0.06% of Medtronic worth $73,698,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Curbstone Financial Management Corp increased its position in shares of Medtronic by 1.8% in the fourth quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock valued at $537,000 after acquiring an additional 100 shares during the period. New England Capital Financial Advisors LLC increased its position in shares of Medtronic by 7.8% in the fourth quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock valued at $135,000 after acquiring an additional 101 shares during the period. Baker Tilly Wealth Management LLC increased its position in shares of Medtronic by 3.3% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock valued at $309,000 after acquiring an additional 102 shares during the period. Maseco LLP increased its position in shares of Medtronic by 32.1% in the fourth quarter. Maseco LLP now owns 444 shares of the medical technology company’s stock valued at $43,000 after acquiring an additional 108 shares during the period. Finally, Holistic Financial Partners increased its position in shares of Medtronic by 3.0% in the third quarter. Holistic Financial Partners now owns 3,697 shares of the medical technology company’s stock valued at $352,000 after acquiring an additional 109 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.1%

Shares of MDT stock opened at $78.66 on Monday. Medtronic PLC has a 12 month low of $74.40 and a 12 month high of $106.33. The stock has a market cap of $100.99 billion, a P/E ratio of 21.91, a P/E/G ratio of 1.87 and a beta of 0.62. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The company has a 50 day simple moving average of $83.50 and a two-hundred day simple moving average of $93.17.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.6%. Medtronic’s dividend payout ratio is 79.11%.

Analyst Upgrades and Downgrades

MDT has been the topic of several research analyst reports. Barclays boosted their price target on shares of Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. Daiwa Securities Group reduced their price target on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Mizuho reduced their price target on shares of Medtronic from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, The Goldman Sachs Group set a $84.00 price objective on shares of Medtronic and gave the stock a “neutral” rating in a research note on Thursday. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and an average price target of $106.45.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter?defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).