Swedbank AB Acquires 15,714 Shares of Medtronic PLC $MDT

Swedbank AB raised its holdings in Medtronic PLC (NYSE:MDT) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 625,686 shares of the medical technology company’s stock after buying an additional 15,714 shares during the quarter. Swedbank AB’s holdings in Medtronic were worth $60,103,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after purchasing an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Medtronic by 9.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after purchasing an additional 381 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Medtronic in the 2nd quarter valued at $299,000. Main Street Financial Solutions LLC boosted its stake in shares of Medtronic by 28.9% in the 2nd quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock valued at $1,251,000 after purchasing an additional 3,218 shares in the last quarter. Finally, HUB Investment Partners LLC boosted its stake in shares of Medtronic by 21.3% in the 2nd quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock valued at $1,676,000 after purchasing an additional 3,376 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on MDT. Jefferies Financial Group restated a “hold” rating and issued a $95.00 target price on shares of Medtronic in a research note on Thursday, April 23rd. Barclays boosted their target price on shares of Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, April 1st. Evercore set a $106.00 target price on shares of Medtronic and gave the company an “outperform” rating in a research note on Thursday, April 9th. Piper Sandler reduced their target price on shares of Medtronic from $105.00 to $91.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Finally, Stifel Nicolaus reduced their target price on shares of Medtronic from $105.00 to $95.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.45.

Medtronic Stock Up 0.7%

Shares of NYSE MDT opened at $78.66 on Friday. The firm’s 50-day simple moving average is $83.50 and its 200 day simple moving average is $93.15. The company has a market cap of $100.99 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 1.87 and a beta of 0.62. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 12-month low of $74.40 and a 12-month high of $106.33.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were given a dividend of $0.71 per share. The ex-dividend date was Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.6%. Medtronic’s dividend payout ratio is 79.11%.

Medtronic Profile

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).