TCW Group Inc. Has $6.47 Million Stake in Medtronic plc (NYSE:MDT)

TCW Group Inc. grew its holdings in Medtronic plc (NYSE:MDT) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 78,425 shares of the medical technology company’s stock after buying an additional 2,869 shares during the quarter. TCW Group Inc.’s holdings in Medtronic were worth $6,468,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDT. Signaturefd LLC boosted its holdings in Medtronic by 7.3% during the third quarter. Signaturefd LLC now owns 15,600 shares of the medical technology company’s stock worth $1,222,000 after buying an additional 1,061 shares during the last quarter. Achmea Investment Management B.V. raised its position in shares of Medtronic by 4.9% during the third quarter. Achmea Investment Management B.V. now owns 82,113 shares of the medical technology company’s stock worth $6,434,000 after purchasing an additional 3,863 shares during the period. Avantax Planning Partners Inc. raised its position in shares of Medtronic by 3.1% during the third quarter. Avantax Planning Partners Inc. now owns 6,322 shares of the medical technology company’s stock worth $495,000 after purchasing an additional 193 shares during the period. Ieq Capital LLC raised its position in Medtronic by 3.3% in the 3rd quarter. Ieq Capital LLC now owns 63,088 shares of the medical technology company’s stock valued at $4,944,000 after buying an additional 2,040 shares during the last quarter. Finally, Financial Advisory Partners LLC raised its position in Medtronic by 1.3% in the 3rd quarter. Financial Advisory Partners LLC now owns 37,916 shares of the medical technology company’s stock valued at $2,971,000 after buying an additional 481 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on MDT shares. Truist Financial lowered their price target on Medtronic from $90.00 to $88.00 and set a “hold” rating on the stock in a research report on Friday. Mizuho lifted their target price on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Wells Fargo & Company lifted their target price on Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday. Oppenheimer lifted their target price on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research note on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Medtronic has an average rating of “Hold” and a consensus target price of $94.45.

Medtronic Stock Up 0.6 %

NYSE:MDT traded up $0.47 on Friday, hitting $81.85. The stock had a trading volume of 4,822,182 shares, compared to its average volume of 6,144,561. The business’s fifty day moving average is $82.84 and its 200 day moving average is $82.62. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $91.00. The company has a market cap of $108.68 billion, a PE ratio of 26.09, a P/E/G ratio of 2.79 and a beta of 0.78. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.01. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The business had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the prior year, the company posted $1.57 earnings per share. Medtronic’s revenue was up .5% compared to the same quarter last year. On average, equities research analysts expect that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Friday, June 28th. This is an increase from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s dividend payout ratio is 87.90%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company’s stock.

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.