Mariner LLC Has $51.33 Million Stock Position in Medtronic plc (NYSE:MDT)

Mariner LLC decreased its stake in Medtronic plc (NYSE:MDT - Free Report) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 642,550 shares of the medical technology company's stock after selling 8,177 shares during the period. Mariner LLC owned approximately 0.05% of Medtronic worth $51,327,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Copley Financial Group Inc. acquired a new position in shares of Medtronic during the third quarter worth $694,000. Franklin Street Advisors Inc. NC boosted its holdings in Medtronic by 32.6% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company's stock valued at $5,873,000 after purchasing an additional 18,057 shares during the last quarter. Olstein Capital Management L.P. increased its holdings in Medtronic by 8.0% during the 4th quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company's stock worth $7,509,000 after purchasing an additional 7,000 shares during the last quarter. Czech National Bank raised its position in shares of Medtronic by 6.4% in the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company's stock valued at $22,212,000 after purchasing an additional 16,786 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Medtronic by 2.7% during the 4th quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company's stock valued at $8,453,000 after buying an additional 2,778 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company's stock.

Medtronic Price Performance

Shares of MDT traded down $0.12 during midday trading on Thursday, reaching $82.58. The stock had a trading volume of 5,937,387 shares, compared to its average volume of 6,667,613. The firm's 50 day moving average price is $89.25 and its 200-day moving average price is $87.53. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The company 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 company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

Medtronic (NYSE:MDT - Get Free Report) last released 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. The business 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%. On average, analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.39%. Medtronic's dividend payout ratio is currently 85.11%.

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.