Medtronic plc (NYSE:MDT) Shares Bought by Natixis Advisors L.P.

Natixis Advisors L.P. grew its stake in Medtronic plc (NYSE:MDT) by 8.6% during the 4th quarter, Holdings Channel reports. The fund owned 1,063,337 shares of the medical technology company’s stock after acquiring an additional 83,816 shares during the period. Natixis Advisors L.P.’s holdings in Medtronic were worth $87,597,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. First Horizon Advisors Inc. lifted its position in shares of Medtronic by 3.1% in the fourth quarter. First Horizon Advisors Inc. now owns 153,682 shares of the medical technology company’s stock valued at $12,660,000 after acquiring an additional 4,637 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Medtronic by 22.2% in the fourth quarter. Fisher Asset Management LLC now owns 4,594,855 shares of the medical technology company’s stock valued at $378,524,000 after acquiring an additional 835,806 shares in the last quarter. Heritage Wealth Management LLC purchased a new stake in shares of Medtronic in the fourth quarter valued at $740,000. Wilbanks Smith & Thomas Asset Management LLC lifted its position in shares of Medtronic by 21.8% in the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 8,170 shares of the medical technology company’s stock valued at $673,000 after acquiring an additional 1,461 shares in the last quarter. Finally, Rogco LP lifted its position in shares of Medtronic by 1.9% in the fourth quarter. Rogco LP now owns 6,814 shares of the medical technology company’s stock valued at $561,000 after acquiring an additional 129 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Michael Marinaro sold 854 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the sale, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Sean Salmon sold 30,695 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total value of $2,613,065.35. Following the completion of the sale, the executive vice president now owns 48,289 shares in the company, valued at $4,110,842.57. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael Marinaro sold 854 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the sale, the executive vice president now owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Medtronic Trading Up 0.9 %

NYSE:MDT traded up $0.76 on Friday, hitting $81.68. 4,986,685 shares of the stock were exchanged, compared to its average volume of 6,228,588. The stock has a market cap of $108.46 billion, a PE ratio of 26.02, a PEG ratio of 2.64 and a beta of 0.78. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock has a fifty day moving average of $83.16 and a 200-day moving average of $81.37. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.00.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.26 by $0.04. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The company had revenue of $8.09 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same period in the prior year, the firm posted $1.30 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts expect that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were paid a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.38%. Medtronic’s dividend payout ratio (DPR) is currently 87.90%.

Analysts Set New Price Targets

MDT has been the topic of several recent analyst reports. Truist Financial increased their target price on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. Royal Bank of Canada reiterated a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a research report on Wednesday, February 21st. Oppenheimer increased their target price on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 21st. Finally, Mizuho increased their target price on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $94.91.

Medtronic Company 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.