Laird Norton Wetherby Wealth Management LLC Buys 1,232 Shares of Medtronic plc (NYSE:MDT)

Laird Norton Wetherby Wealth Management LLC grew its stake in Medtronic plc (NYSE:MDT) by 6.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,840 shares of the medical technology company’s stock after purchasing an additional 1,232 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Medtronic were worth $1,585,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Laurion Capital Management LP raised its holdings in Medtronic by 24.5% in the 4th quarter. Laurion Capital Management LP now owns 91,374 shares of the medical technology company’s stock worth $7,299,000 after purchasing an additional 17,971 shares in the last quarter. Investment Management Corp of Ontario increased its stake in shares of Medtronic by 7.0% in the 4th quarter. Investment Management Corp of Ontario now owns 72,339 shares of the medical technology company’s stock worth $5,778,000 after acquiring an additional 4,724 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Medtronic by 0.7% in the 4th quarter. Janus Henderson Group PLC now owns 3,877,532 shares of the medical technology company’s stock worth $309,762,000 after acquiring an additional 26,618 shares in the last quarter. Jefferies Financial Group Inc. increased its stake in shares of Medtronic by 10.3% in the 4th quarter. Jefferies Financial Group Inc. now owns 125,499 shares of the medical technology company’s stock worth $10,025,000 after acquiring an additional 11,703 shares in the last quarter. Finally, Guardian Wealth Advisors LLC NC increased its stake in shares of Medtronic by 15.5% in the 4th quarter. Guardian Wealth Advisors LLC NC now owns 3,371 shares of the medical technology company’s stock worth $269,000 after acquiring an additional 453 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

Shares of NYSE MDT opened at $85.26 on Wednesday. The firm’s 50-day moving average price is $86.43 and its 200-day moving average price is $86.72. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The company has a market cap of $109.35 billion, a PE ratio of 25.91, a PEG ratio of 2.22 and a beta of 0.81. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25.

Medtronic (NYSE:MDT) last announced its quarterly earnings results 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. The firm had revenue of $8.29 billion for 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%. As a group, analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm 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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date was Friday, March 28th. Medtronic’s payout ratio is 85.11%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MDT. UBS Group increased their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a research note 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 for the company in a research note on Friday, April 11th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and increased their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $96.14.

About Medtronic

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.