Swedbank AB Purchases 15,714 Shares of Medtronic PLC $MDT

Swedbank AB grew its position in Medtronic PLC (NYSE:MDT) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 625,686 shares of the medical technology company’s stock after purchasing an additional 15,714 shares during the quarter. Swedbank AB’s holdings in Medtronic were worth $60,103,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Artisan Partners Limited Partnership raised its position in shares of Medtronic by 2.6% in the third quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock valued at $117,579,000 after purchasing an additional 31,314 shares during the period. CSM Advisors LLC raised its position in shares of Medtronic by 13.2% in the third quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock valued at $27,169,000 after purchasing an additional 33,167 shares during the period. SageView Advisory Group LLC increased its position in Medtronic by 164.8% during the third quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock worth $2,305,000 after acquiring an additional 15,062 shares during the period. UMB Bank n.a. increased its position in Medtronic by 65.8% during the third quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock worth $13,170,000 after acquiring an additional 54,898 shares during the period. Finally, Bleakley Financial Group LLC increased its position in Medtronic by 17.8% during the third quarter. Bleakley Financial Group LLC now owns 87,313 shares of the medical technology company’s stock worth $8,316,000 after acquiring an additional 13,177 shares during the period. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MDT. The Goldman Sachs Group set a $84.00 target price on shares of Medtronic and gave the stock a “neutral” rating in a research report on Thursday. Leerink Partners reaffirmed an “outperform” rating and set a $119.00 target price on shares of Medtronic in a research report on Tuesday, March 10th. Weiss Ratings lowered shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. Argus dropped their target price on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Finally, Wells Fargo & Company began coverage on shares of Medtronic in a research report on Friday, January 30th. They set an “overweight” rating and a $114.00 target price on the stock. Fifteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and a consensus target price of $106.45.

Medtronic Trading Up 0.7%

Shares of Medtronic stock opened at $78.66 on Friday. The firm has a market capitalization of $100.99 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 1.87 and a beta of 0.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. The company’s fifty day moving average price is $83.50 and its two-hundred day moving average price is $93.15. Medtronic PLC has a 52-week low of $74.40 and a 52-week high of $106.33.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, March 27th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Friday, March 27th. Medtronic’s payout ratio is 79.11%.

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).