Boston Family Office LLC Purchases 413 Shares of Medtronic plc (NYSE:MDT)

Boston Family Office LLC grew its holdings in shares of Medtronic plc (NYSE:MDT) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,305 shares of the medical technology company’s stock after purchasing an additional 413 shares during the quarter. Boston Family Office LLC’s holdings in Medtronic were worth $2,181,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Medtronic during the fourth quarter worth $1,163,580,000. Raymond James Financial Inc. bought a new stake in shares of Medtronic during the 4th quarter valued at $852,732,000. Beutel Goodman & Co Ltd. purchased a new stake in Medtronic during the 4th quarter worth about $377,169,000. Van ECK Associates Corp boosted its stake in Medtronic by 2,043.4% in the 4th quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock worth $207,540,000 after purchasing an additional 2,476,935 shares during the period. Finally, Boston Partners grew its holdings in Medtronic by 117.4% during the 4th quarter. Boston Partners now owns 3,102,605 shares of the medical technology company’s stock valued at $248,311,000 after buying an additional 1,675,588 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 2.6 %

MDT stock opened at $89.92 on Tuesday. The company has a market capitalization of $115.33 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The company’s 50 day moving average price is $91.02 and its two-hundred day moving average price is $87.99.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. As a group, analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.11%. Medtronic’s payout ratio is 85.11%.

Analyst Ratings Changes

A number of equities analysts have recently commented on MDT shares. Robert W. Baird raised their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. UBS Group boosted their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Truist Financial reduced their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $96.07.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Medtronic 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.