474 Shares in Medtronic plc (NYSE:MDT) Bought by Mpwm Advisory Solutions LLC

Mpwm Advisory Solutions LLC bought a new position in shares of Medtronic plc (NYSE:MDT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 474 shares of the medical technology company’s stock, valued at approximately $38,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Medtronic during the fourth quarter valued at $1,163,580,000. Raymond James Financial Inc. purchased a new stake in Medtronic during the fourth quarter valued at $852,732,000. Beutel Goodman & Co Ltd. purchased a new stake in Medtronic during the fourth quarter valued at $377,169,000. Van ECK Associates Corp raised its stake in Medtronic by 2,043.4% during the fourth quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock valued at $207,540,000 after purchasing an additional 2,476,935 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Medtronic by 17.8% during the fourth quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company’s stock valued at $1,233,769,000 after purchasing an additional 2,333,600 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MDT. UBS Group upped their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Truist Financial decreased their price target on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and upped their price target for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Robert W. Baird upped their price target on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $96.14.

Medtronic Trading Down 0.9%

MDT stock opened at $86.19 on Wednesday. The company has a market capitalization of $110.54 billion, a PE ratio of 26.20, a P/E/G ratio of 2.22 and a beta of 0.81. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The firm’s 50-day moving average is $85.71 and its 200 day moving average is $86.57. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. On average, research analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.25%. Medtronic’s payout ratio is 85.11%.

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.