Global Retirement Partners LLC Buys 18,335 Shares of Medtronic PLC $MDT

Global Retirement Partners LLC grew its stake in shares of Medtronic PLC (NYSE:MDT) by 54.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,919 shares of the medical technology company’s stock after buying an additional 18,335 shares during the period. Global Retirement Partners LLC’s holdings in Medtronic were worth $4,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Artisan Partners Limited Partnership grew its holdings in shares of Medtronic by 2.6% in the third quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock valued at $117,579,000 after purchasing an additional 31,314 shares in the last quarter. SageView Advisory Group LLC grew its holdings in shares of Medtronic by 164.8% in the third quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock valued at $2,305,000 after purchasing an additional 15,062 shares in the last quarter. CSM Advisors LLC grew its holdings in shares of Medtronic by 13.2% in the third quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock valued at $27,169,000 after purchasing an additional 33,167 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Medtronic by 65.8% in the third quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock valued at $13,170,000 after purchasing an additional 54,898 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in shares of Medtronic by 17.8% in the third quarter. Bleakley Financial Group LLC now owns 87,313 shares of the medical technology company’s stock valued at $8,316,000 after purchasing an additional 13,177 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on MDT. Piper Sandler cut their target price on shares of Medtronic from $105.00 to $91.00 and set a “neutral” rating for the company in a report on Wednesday, April 1st. Evercore set a $106.00 target price on shares of Medtronic and gave the company an “outperform” rating in a report on Thursday, April 9th. Mizuho cut their target price on shares of Medtronic from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Wells Fargo & Company initiated coverage on shares of Medtronic in a research note on Friday, January 30th. They set an “overweight” rating and a $114.00 price objective for the company. Finally, Stifel Nicolaus dropped their price objective on shares of Medtronic from $105.00 to $95.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Fifteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $106.45.

Key Stories Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic said the SPR Therapeutics purchase will strengthen its neuromodulation portfolio by adding temporary peripheral nerve stimulation technology for chronic pain, a move that could support longer-term growth and broaden its treatment offerings. PR Newswire article
• Positive Sentiment: Reuters reported that the deal expands Medtronic’s portfolio of treatments for chronic pain, reinforcing the company’s strategy to grow in higher-value medical device categories. Reuters article
• Neutral Sentiment: Piper Sandler maintained its Hold rating on Medtronic, suggesting analysts are not yet signaling a major re-rating from the news. The Globe and Mail article
• Neutral Sentiment: Healthcare stocks were mixed in afternoon trading, so broader sector movement does not appear to be the main driver of Medtronic’s move. Yahoo Finance sector update
• Negative Sentiment: Some market commentary framed the SPR deal as a reason for MDT’s stock to slide, likely reflecting concern about acquisition costs and execution risk. Blockonomi article

Medtronic Stock Down 0.0%

NYSE MDT opened at $78.11 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $83.71 and a two-hundred day moving average of $93.25. The firm has a market capitalization of $100.29 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 1.86 and a beta of 0.62. Medtronic PLC has a 52 week low of $74.40 and a 52 week high of $106.33.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.34 by $0.02. The company had revenue of $9.02 billion during the quarter, compared to analyst estimates of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. Medtronic’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.38 earnings per share. On average, analysts predict that Medtronic PLC will post 5.56 earnings per share for the current year.

Medtronic Dividend Announcement

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

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).