Todd Asset Management LLC Buys 75,608 Shares of Medtronic PLC $MDT

Todd Asset Management LLC increased its stake in shares of Medtronic PLC (NYSE:MDT) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 767,205 shares of the medical technology company’s stock after acquiring an additional 75,608 shares during the quarter. Medtronic comprises about 1.4% of Todd Asset Management LLC’s portfolio, making the stock its 13th largest holding. Todd Asset Management LLC’s holdings in Medtronic were worth $73,698,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MDT. Lodestone Wealth Management LLC bought a new position in Medtronic during the fourth quarter valued at $27,000. Anfield Capital Management LLC lifted its position in Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 230 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in Medtronic during the third quarter valued at $29,000. Board of the Pension Protection Fund bought a new position in Medtronic during the fourth quarter valued at $29,000. Finally, GoalVest Advisory LLC bought a new position in Medtronic during the fourth quarter valued at $29,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on MDT shares. Wall Street Zen lowered shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Piper Sandler reduced their target price on shares of Medtronic from $105.00 to $91.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Weiss Ratings downgraded shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. Wells Fargo & Company initiated coverage on shares of Medtronic in a research note on Friday, January 30th. They issued an “overweight” rating and a $114.00 target price on the stock. Finally, CICC Research initiated coverage on shares of Medtronic in a research note on Friday, January 30th. They issued an “outperform” rating on the stock. Fifteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.45.

Medtronic Trading Up 0.1%

Shares of MDT opened at $78.66 on Monday. Medtronic PLC has a 1-year low of $74.40 and a 1-year high of $106.33. The company has a 50-day moving average of $83.50 and a 200 day moving average of $93.17. The firm has a market capitalization of $100.99 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 1.87 and a beta of 0.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were issued a dividend of $0.71 per share. The ex-dividend date was Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.6%. Medtronic’s dividend payout ratio (DPR) is presently 79.11%.

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).