Mattson Financial Services LLC Has $3.37 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Mattson Financial Services LLC boosted its stake in shares of Medtronic plc (NYSE:MDT) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,159 shares of the medical technology company’s stock after purchasing an additional 2,489 shares during the period. Medtronic accounts for about 1.1% of Mattson Financial Services LLC’s investment portfolio, making the stock its 27th biggest holding. Mattson Financial Services LLC’s holdings in Medtronic were worth $3,368,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Medtronic by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company’s stock valued at $9,921,367,000 after purchasing an additional 754,395 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Medtronic by 1.8% in the fourth quarter. Capital Research Global Investors now owns 33,203,685 shares of the medical technology company’s stock valued at $2,652,310,000 after buying an additional 571,700 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Medtronic by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company’s stock valued at $2,155,085,000 after buying an additional 574,055 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Medtronic by 2.1% in the fourth quarter. Deutsche Bank AG now owns 18,443,640 shares of the medical technology company’s stock valued at $1,473,278,000 after buying an additional 372,168 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Medtronic by 17.8% in 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 buying an additional 2,333,600 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MDT has been the subject of a number of recent analyst reports. Robert W. Baird cut their price objective on Medtronic from $94.00 to $92.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Truist Financial cut their price objective on Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, April 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Monday, May 19th. Mizuho cut their price objective on Medtronic from $100.00 to $98.00 and set an “outperform” rating for the company in a research report on Thursday, May 22nd. Finally, Royal Bank of Canada cut their price objective on Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $96.07.

Medtronic Stock Performance

MDT opened at $81.14 on Wednesday. The business has a fifty day simple moving average of $84.64 and a 200 day simple moving average of $86.31. The company has a market capitalization of $104.07 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. 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 Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.04. The firm had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.81 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 EPS. Research analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 27th. This is a boost from Medtronic’s previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 3.50%. Medtronic’s payout ratio is currently 78.45%.

About Medtronic

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.