Boston Partners Raises Holdings in Medtronic plc (NYSE:MDT)

Boston Partners increased its position in shares of Medtronic plc (NYSE:MDT) by 117.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,102,605 shares of the medical technology company’s stock after purchasing an additional 1,675,588 shares during the quarter. Boston Partners owned approximately 0.24% of Medtronic worth $248,311,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new stake in shares of Medtronic during the third quarter worth approximately $27,000. Mainstream Capital Management LLC acquired a new position in Medtronic during the fourth quarter worth $26,000. J. Stern & Co. LLP acquired a new position in Medtronic during the third quarter worth $30,000. Rakuten Securities Inc. boosted its stake in Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after buying an additional 294 shares during the last quarter. Finally, Stephens Consulting LLC boosted its stake in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Price Performance

MDT stock opened at $92.10 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $118.12 billion, a PE ratio of 27.99, a P/E/G ratio of 2.22 and a beta of 0.80. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25. The business’s fifty day moving average price is $90.12 and its 200 day moving average price is $88.02.

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

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.04%. Medtronic’s dividend payout ratio (DPR) is 85.11%.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MDT shares. Sanford C. Bernstein boosted their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Barclays boosted their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Wells Fargo & Company decreased their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Finally, Truist Financial decreased their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $96.07.

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.