Natixis Advisors LLC Has $113.68 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Natixis Advisors LLC boosted its stake in Medtronic plc (NYSE:MDT) by 5.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,423,128 shares of the medical technology company’s stock after buying an additional 78,918 shares during the period. Natixis Advisors LLC’s holdings in Medtronic were worth $113,679,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Poinciana Advisors Group LLC bought a new stake in shares of Medtronic during the 4th quarter worth approximately $341,000. Valtinson Bruner Financial Planning LLC raised its stake in shares of Medtronic by 4.0% during the fourth quarter. Valtinson Bruner Financial Planning LLC now owns 23,933 shares of the medical technology company’s stock valued at $1,912,000 after acquiring an additional 920 shares during the last quarter. Buckley Wealth Management LLC raised its stake in Medtronic by 2.7% during the fourth quarter. Buckley Wealth Management LLC now owns 9,945 shares of the medical technology company’s stock worth $794,000 after buying an additional 262 shares during the last quarter. First Eagle Investment Management LLC raised its stake in Medtronic by 0.3% during the fourth quarter. First Eagle Investment Management LLC now owns 9,792,200 shares of the medical technology company’s stock worth $782,201,000 after buying an additional 28,910 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its stake in Medtronic by 14.3% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 4,191,837 shares of the medical technology company’s stock worth $334,844,000 after buying an additional 525,877 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

MDT stock opened at $93.18 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The business has a 50-day moving average price of $89.61 and a 200 day moving average price of $87.96. The company has a market capitalization of $119.51 billion, a P/E ratio of 28.32, a PEG ratio of 2.22 and a beta of 0.80. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates 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, equities research analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.00%. Medtronic’s dividend payout ratio is currently 85.11%.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was 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 in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Wells Fargo & Company lowered their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Truist Financial decreased their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $96.07.

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.