Medtronic plc (NYSE:MDT) Shares Acquired by Boston Family Office LLC

Boston Family Office LLC grew its stake in shares of Medtronic plc (NYSE:MDTFree Report) by 18.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,519 shares of the medical technology company’s stock after purchasing an additional 4,516 shares during the period. Boston Family Office LLC’s holdings in Medtronic were worth $2,349,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Morgan Stanley raised its stake in Medtronic by 9.2% during the 3rd quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock valued at $1,863,229,000 after purchasing an additional 1,994,123 shares during the period. Norges Bank purchased a new stake in Medtronic in the 4th quarter worth about $1,229,726,000. Northern Trust Corp boosted its position in Medtronic by 2.1% during the 3rd quarter. Northern Trust Corp now owns 13,622,933 shares of the medical technology company’s stock worth $1,067,493,000 after acquiring an additional 285,819 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Medtronic by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,089,400 shares of the medical technology company’s stock worth $893,352,000 after acquiring an additional 101,111 shares during the period. Finally, American Century Companies Inc. grew its stake in Medtronic by 6.7% during the 3rd quarter. American Century Companies Inc. now owns 10,297,135 shares of the medical technology company’s stock valued at $806,883,000 after acquiring an additional 649,367 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of Medtronic stock traded down $0.14 on Wednesday, reaching $81.86. The stock had a trading volume of 5,217,257 shares, compared to its average volume of 6,186,137. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $91.00. The business’s 50-day moving average price is $82.74 and its two-hundred day moving average price is $82.99. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.03. The stock has a market cap of $108.70 billion, a P/E ratio of 29.54, a price-to-earnings-growth ratio of 2.69 and a beta of 0.78.

Medtronic (NYSE:MDTGet Free Report) last issued its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.01. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The company had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period in the previous year, the company earned $1.57 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. On average, sell-side analysts forecast that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.42%. This is an increase from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s dividend payout ratio (DPR) is currently 100.36%.

Wall Street Analysts Forecast Growth

MDT has been the subject of several research reports. UBS Group raised their price target on shares of Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a report on Friday, May 24th. Wells Fargo & Company lifted their target price on shares of Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Mizuho upped their price target on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Truist Financial reduced their price objective on Medtronic from $90.00 to $88.00 and set a “hold” rating for the company in a research report on Friday, May 24th. Finally, Oppenheimer upped their target price on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $94.00.

Read Our Latest Report on MDT

Insider Transactions at Medtronic

In other news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by insiders.

About Medtronic

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic plc (NYSE:MDTFree Report).

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.