Grandfield & Dodd LLC Decreases Stock Holdings in Medtronic PLC $MDT

Grandfield & Dodd LLC lowered its stake in shares of Medtronic PLC (NYSE:MDT) by 10.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,159 shares of the medical technology company’s stock after selling 8,520 shares during the period. Grandfield & Dodd LLC’s holdings in Medtronic were worth $7,220,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Curbstone Financial Management Corp boosted its holdings in Medtronic by 1.8% during the fourth quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock worth $537,000 after buying an additional 100 shares in the last quarter. New England Capital Financial Advisors LLC boosted its holdings in Medtronic by 7.8% during the fourth quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock worth $135,000 after buying an additional 101 shares in the last quarter. Baker Tilly Wealth Management LLC boosted its holdings in Medtronic by 3.3% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock worth $309,000 after buying an additional 102 shares in the last quarter. Maseco LLP boosted its holdings in Medtronic by 32.1% during the fourth quarter. Maseco LLP now owns 444 shares of the medical technology company’s stock worth $43,000 after buying an additional 108 shares in the last quarter. Finally, Holistic Financial Partners boosted its holdings in Medtronic by 3.0% during the third quarter. Holistic Financial Partners now owns 3,697 shares of the medical technology company’s stock worth $352,000 after buying an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 2.4%

Shares of NYSE MDT opened at $73.73 on Friday. Medtronic PLC has a 12-month low of $73.67 and a 12-month high of $106.33. The company has a market capitalization of $94.66 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.76 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. The firm’s 50-day moving average is $82.36 and its two-hundred day moving average is $92.65.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, March 27th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, March 27th. Medtronic’s dividend payout ratio is 79.11%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MDT shares. UBS Group decreased their price objective on shares of Medtronic from $104.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, April 22nd. Robert W. Baird boosted their price objective on shares of Medtronic from $92.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Wall Street Zen downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Daiwa Securities Group reduced their price target on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, The Goldman Sachs Group set a $84.00 price target on shares of Medtronic and gave the company a “neutral” rating in a report on Thursday, May 21st. Fifteen equities research 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.45.

Medtronic Company Profile

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).