Medtronic plc (NYSE:MDT) Shares Purchased by Cohen & Steers Inc.

Cohen & Steers Inc. boosted its holdings in shares of Medtronic plc (NYSE:MDT) by 5.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,856 shares of the medical technology company’s stock after purchasing an additional 195 shares during the quarter. Cohen & Steers Inc.’s holdings in Medtronic were worth $308,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SageView Advisory Group LLC grew its holdings in Medtronic by 151.3% during the 4th quarter. SageView Advisory Group LLC now owns 10,009 shares of the medical technology company’s stock worth $800,000 after acquiring an additional 6,026 shares in the last quarter. Savvy Advisors Inc. grew its stake in Medtronic by 110.1% in the fourth quarter. Savvy Advisors Inc. now owns 9,431 shares of the medical technology company’s stock worth $753,000 after purchasing an additional 4,942 shares in the last quarter. Stamos Capital Partners L.P. raised its stake in Medtronic by 4.9% during the fourth quarter. Stamos Capital Partners L.P. now owns 59,360 shares of the medical technology company’s stock valued at $4,742,000 after buying an additional 2,760 shares in the last quarter. Sagespring Wealth Partners LLC bought a new position in Medtronic during the 4th quarter worth approximately $1,413,000. Finally, Townsquare Capital LLC grew its position in shares of Medtronic by 3.2% in the 4th quarter. Townsquare Capital LLC now owns 373,264 shares of the medical technology company’s stock worth $29,816,000 after acquiring an additional 11,449 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Medtronic Price Performance

NYSE MDT opened at $82.26 on Wednesday. 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 firm has a market capitalization of $105.51 billion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. The company has a 50 day simple moving average of $89.39 and a 200-day simple moving average of $87.56. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $8.33 billion. Equities research analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.40%. Medtronic’s dividend payout ratio (DPR) is 85.11%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MDT. UBS Group boosted their price objective on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Truist Financial lowered their price target on Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. One 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.