Medtronic plc (NYSE:MDT) Holdings Boosted by Dodge & Cox

Dodge & Cox raised its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 13.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,661,125 shares of the medical technology company's stock after purchasing an additional 897,635 shares during the period. Dodge & Cox owned 0.60% of Medtronic worth $611,971,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Morse Asset Management Inc purchased a new stake in shares of Medtronic during the 3rd quarter worth about $225,000. Te Ahumairangi Investment Management Ltd lifted its position in Medtronic by 4.1% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 52,321 shares of the medical technology company's stock valued at $4,684,000 after buying an additional 2,050 shares in the last quarter. Chelsea Counsel Co. purchased a new stake in Medtronic during the third quarter worth approximately $45,000. Tudor Financial Inc. acquired a new stake in shares of Medtronic in the third quarter worth $586,000. Finally, Anchor Investment Management LLC raised its stake in shares of Medtronic by 1.2% in the 3rd quarter. Anchor Investment Management LLC now owns 107,518 shares of the medical technology company's stock valued at $9,680,000 after acquiring an additional 1,271 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Performance

NYSE:MDT traded down $0.12 during trading hours on Friday, reaching $82.58. 5,937,486 shares of the stock were exchanged, compared to its average volume of 6,673,811. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $105.91 billion, a P/E ratio of 25.10, a P/E/G ratio of 2.22 and a beta of 0.79. The firm has a 50 day simple moving average of $88.91 and a 200-day simple moving average of $87.41.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, sell-side analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.39%. The ex-dividend date was Friday, March 28th. Medtronic's payout ratio is currently 85.11%.

Insider Transactions at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now directly owns 40,979 shares of the company's stock, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on MDT. Robert W. Baird increased their price target on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Truist Financial lowered their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Royal Bank of Canada reiterated an "outperform" rating and set a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and upped their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Medtronic has a consensus rating of "Hold" and a consensus price target of $96.14.

Medtronic Company 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.