Geode Capital Management LLC Buys 231,919 Shares of Medtronic PLC $MDT

Geode Capital Management LLC grew its stake in Medtronic PLC (NYSE:MDT) by 0.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 27,879,481 shares of the medical technology company’s stock after purchasing an additional 231,919 shares during the period. Geode Capital Management LLC’s holdings in Medtronic were worth $2,665,832,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Lodestone Wealth Management LLC bought a new position in Medtronic in the 4th quarter valued at $27,000. Anfield Capital Management LLC grew its position in Medtronic by 410.7% in the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 230 shares during the last quarter. Board of the Pension Protection Fund bought a new position in Medtronic in the 4th quarter valued at $29,000. GoalVest Advisory LLC bought a new position in Medtronic in the 4th quarter valued at $29,000. Finally, Valley Wealth Managers Inc. bought a new position in Medtronic in the 3rd quarter valued at $29,000. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Down 2.1%

Shares of NYSE MDT opened at $75.98 on Thursday. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $82.89 and a two-hundred day simple moving average of $92.90. The firm has a market cap of $97.55 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 1.85 and a beta of 0.62. Medtronic PLC has a twelve month low of $74.40 and a twelve month high of $106.33.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, March 27th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.7%. Medtronic’s payout ratio is 79.11%.

Medtronic News Roundup

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic announced its intention to acquire SPR Therapeutics, a move that could expand its pain-management portfolio and support longer-term growth. Medtronic plc (MDT) Announces Intention to Acquire SPR Therapeutics (SPR)
• Positive Sentiment: Analysts noted broad MedSurg, cardiovascular, and diabetes strength could help Medtronic’s fiscal Q4 results, suggesting some underlying operational support. Broad-Based MedSurg Growth Likely to Aid MDT’s Q4 Performance
• Neutral Sentiment: Medtronic is expected to report earnings on Wednesday, keeping investors focused on whether results and guidance can reset expectations. Medtronic (MDT) Expected to Announce Earnings on Wednesday
• Neutral Sentiment: Industry comparisons continue to highlight competition in surgical robotics, with Intuitive Surgical seen as having the stronger growth profile than Medtronic’s Hugo platform. ISRG vs. MDT: Which Surgical Robot Stock Is the Better Buy?
• Negative Sentiment: Analysts are looking for a decline in Medtronic’s earnings and say the company may not have the right setup for an earnings beat, which is weighing on sentiment ahead of the report. Analysts Estimate Medtronic (MDT) to Report a Decline in Earnings: What to Look Out for
• Negative Sentiment: Recent trading showed the stock weakening despite a broader market gain, reinforcing cautious investor sentiment. Medtronic (MDT) Stock Drops Despite Market Gains: Important Facts to Note

Wall Street Analysts Forecast Growth

MDT has been the topic of several research analyst reports. The Goldman Sachs Group set a $84.00 price objective on Medtronic and gave the company a “neutral” rating in a research report on Thursday, May 21st. Evercore set a $106.00 price objective on Medtronic and gave the company an “outperform” rating in a research report on Thursday, April 9th. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. UBS Group cut their price objective on Medtronic from $104.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 22nd. Finally, Robert W. Baird upped their price objective on Medtronic from $92.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.45.

About Medtronic

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).