Natixis Advisors LLC Has $258.95 Million Holdings in Medtronic PLC $MDT

Natixis Advisors LLC increased its stake in Medtronic PLC (NYSE:MDT) by 3.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,695,751 shares of the medical technology company’s stock after purchasing an additional 77,975 shares during the quarter. Natixis Advisors LLC’s holdings in Medtronic were worth $258,954,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vantus Wealth LLC acquired a new position in Medtronic in the 4th quarter worth $315,000. COFG Advisors LLC acquired a new position in Medtronic in the 4th quarter worth $3,820,000. Colton Groome Financial Advisors LLC boosted its stake in Medtronic by 4.5% in the 4th quarter. Colton Groome Financial Advisors LLC now owns 16,960 shares of the medical technology company’s stock worth $1,629,000 after purchasing an additional 724 shares during the period. Brentview Investment Management LLC boosted its stake in Medtronic by 0.5% in the 4th quarter. Brentview Investment Management LLC now owns 41,046 shares of the medical technology company’s stock worth $3,943,000 after purchasing an additional 216 shares during the period. Finally, New Mexico Educational Retirement Board boosted its stake in Medtronic by 2.8% in the 4th quarter. New Mexico Educational Retirement Board now owns 59,587 shares of the medical technology company’s stock worth $5,724,000 after purchasing an additional 1,600 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of NYSE:MDT opened at $73.95 on Tuesday. The company’s 50 day moving average price is $82.11 and its two-hundred day moving average price is $92.49. The firm has a market cap of $94.94 billion, a PE ratio of 20.60, a PEG ratio of 1.76 and a beta of 0.58. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. Medtronic PLC has a 12-month low of $73.67 and a 12-month high of $106.33.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, March 27th were given a $0.71 dividend. The ex-dividend date was Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.8%. Medtronic’s dividend payout ratio (DPR) is currently 79.11%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MDT. Truist Financial reduced their target price on shares of Medtronic from $103.00 to $95.00 and set a “hold” rating for the company in a research note on Wednesday, April 15th. UBS Group reduced their target price on shares of Medtronic from $104.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. reduced their target price on shares of Medtronic from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Weiss Ratings lowered shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Finally, Mizuho reduced their price objective on shares of Medtronic from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. Fifteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $106.45.

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).