Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of Medtronic plc (NYSE:MDT – Get Rating) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,727 shares of the medical technology company’s stock after acquiring an additional 231 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Medtronic were worth $1,110,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Rench Wealth Management Inc. boosted its position in Medtronic by 1.1% during the fourth quarter. Rench Wealth Management Inc. now owns 46,860 shares of the medical technology company’s stock worth $4,848,000 after acquiring an additional 490 shares during the last quarter. Capricorn Fund Managers Ltd acquired a new position in Medtronic in the 4th quarter valued at about $3,291,000. Mmbg Investment Advisors CO. acquired a new position in Medtronic in the 4th quarter valued at about $443,000. Summit Global Investments boosted its holdings in Medtronic by 9.6% in the 4th quarter. Summit Global Investments now owns 16,567 shares of the medical technology company’s stock valued at $1,714,000 after purchasing an additional 1,446 shares during the last quarter. Finally, Rowland & Co. Investment Counsel ADV acquired a new position in Medtronic in the 4th quarter valued at about $356,000. Hedge funds and other institutional investors own 80.23% of the company’s stock.
NYSE:MDT traded down $5.65 during trading hours on Thursday, reaching $99.89. 576,607 shares of the company’s stock were exchanged, compared to its average volume of 6,168,607. The firm has a market capitalization of $134.01 billion, a price-to-earnings ratio of 29.07, a P/E/G ratio of 2.34 and a beta of 0.74. The company has a 50-day moving average of $107.40 and a 200 day moving average of $107.36. The company has a quick ratio of 2.10, a current ratio of 2.61 and a debt-to-equity ratio of 0.46. Medtronic plc has a 1-year low of $98.38 and a 1-year high of $135.89.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 22nd. Investors of record on Friday, March 25th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Thursday, March 24th. Medtronic’s dividend payout ratio is currently 69.42%.
Several equities analysts have weighed in on the stock. SVB Leerink reiterated a “market perform” rating on shares of Medtronic in a report on Wednesday, April 13th. Truist Financial downgraded shares of Medtronic from a “buy” rating to a “hold” rating and reduced their price target for the company from $124.00 to $121.00 in a research note on Wednesday, April 13th. Piper Sandler reduced their price target on shares of Medtronic from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 16th. Credit Suisse Group cut their target price on shares of Medtronic from $142.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 23rd. Finally, Citigroup cut their target price on shares of Medtronic from $127.00 to $120.00 in a research note on Tuesday, May 17th. Ten research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $126.52.
In other news, SVP Carol A. Surface sold 6,000 shares of the firm’s stock in a transaction on Friday, March 11th. The shares were sold at an average price of $105.30, for a total value of $631,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Karen L. Parkhill sold 682 shares of the firm’s stock in a transaction on Friday, March 18th. The stock was sold at an average price of $110.00, for a total transaction of $75,020.00. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.
Medtronic Profile (Get Rating)
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software.
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