Natixis Advisors L.P. increased its stake in shares of Medtronic plc (NYSE:MDT) by 3.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 841,677 shares of the medical technology company’s stock after acquiring an additional 30,587 shares during the period. Natixis Advisors L.P.’s holdings in Medtronic were worth $99,427,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Diversified LLC acquired a new position in Medtronic during the fourth quarter worth approximately $25,000. Vantage Consulting Group Inc acquired a new position in shares of Medtronic in the fourth quarter valued at approximately $26,000. Concord Wealth Partners acquired a new position in shares of Medtronic in the fourth quarter valued at approximately $26,000. Safeguard Investment Advisory Group LLC acquired a new position in shares of Medtronic in the fourth quarter valued at approximately $26,000. Finally, JCIC Asset Management Inc. grew its position in shares of Medtronic by 335.2% in the fourth quarter. JCIC Asset Management Inc. now owns 235 shares of the medical technology company’s stock valued at $28,000 after purchasing an additional 181 shares during the last quarter. Institutional investors and hedge funds own 79.17% of the company’s stock.
Shares of NYSE MDT opened at $125.27 on Friday. Medtronic plc has a fifty-two week low of $87.68 and a fifty-two week high of $132.30. The firm’s 50-day simple moving average is $124.80 and its 200 day simple moving average is $117.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.79 and a current ratio of 2.16. The stock has a market cap of $168.87 billion, a price-to-earnings ratio of 47.81, a PEG ratio of 3.65 and a beta of 0.70.
The company also recently announced a quarterly dividend, which was paid on Friday, April 16th. Shareholders of record on Friday, March 26th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, March 25th. This represents a $2.32 annualized dividend and a dividend yield of 1.85%. Medtronic’s dividend payout ratio is currently 50.54%.
Several equities research analysts have weighed in on the company. SVB Leerink upped their target price on Medtronic from $123.00 to $129.00 and gave the stock a “market perform” rating in a research note on Tuesday, March 2nd. Stifel Nicolaus upped their target price on Medtronic from $132.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, March 2nd. Atlantic Securities assumed coverage on Medtronic in a research note on Wednesday, April 21st. They set an “overweight” rating and a $153.00 target price for the company. Cowen upped their target price on Medtronic from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 24th. Finally, Credit Suisse Group upped their target price on Medtronic from $126.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $125.54.
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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