Northwestern Mutual Wealth Management Co. Sells 150,166 Shares of Medtronic PLC $MDT

Northwestern Mutual Wealth Management Co. cut its stake in shares of Medtronic PLC (NYSE:MDT) by 89.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,642 shares of the medical technology company’s stock after selling 150,166 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Medtronic were worth $1,791,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MDT. Lodestone Wealth Management LLC bought a new position in shares of Medtronic in the fourth quarter worth approximately $27,000. Anfield Capital Management LLC grew its position in Medtronic by 410.7% during the fourth 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. Valley Wealth Managers Inc. bought a new position in Medtronic during the third quarter valued at approximately $29,000. Board of the Pension Protection Fund purchased a new stake in shares of Medtronic during the fourth quarter valued at approximately $29,000. Finally, GoalVest Advisory LLC purchased a new stake in shares of Medtronic during the fourth quarter valued at approximately $29,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Down 2.1%

Shares of NYSE:MDT opened at $75.98 on Thursday. The stock has a 50 day moving average of $82.89 and a 200 day moving average of $92.90. The company 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. The company has a current ratio of 2.54, a quick ratio of 1.87 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 Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently commented on MDT. Barclays raised their price target on Medtronic from $118.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 1st. Leerink Partners reissued an “outperform” rating and set a $119.00 price objective on shares of Medtronic in a research report on Tuesday, March 10th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $95.00 price target on shares of Medtronic in a research report on Thursday, April 23rd. Robert W. Baird lifted their price target on Medtronic from $92.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price objective on shares of Medtronic in a report on Thursday, March 26th. Fifteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.45.

More Medtronic News

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

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).