Medtronic plc (NYSE:MDT) Shares Bought by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 215,375 shares of the medical technology company's stock after acquiring an additional 9,646 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC's holdings in Medtronic were worth $17,204,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MDT. Mainstream Capital Management LLC bought a new position in Medtronic in the fourth quarter valued at $26,000. Stephens Consulting LLC increased its stake in shares of Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after buying an additional 204 shares during the period. Rakuten Securities Inc. grew its stake in Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after purchasing an additional 294 shares during the period. Fiduciary Advisors Inc. bought a new position in Medtronic in the fourth quarter worth approximately $36,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Medtronic during the fourth quarter valued at approximately $40,000. Institutional investors own 82.06% of the company's stock.

Insider Transactions at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm'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 directly owns 40,979 shares of the company's stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MDT. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and raised their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Robert W. Baird raised their target price 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. Truist Financial dropped their price target on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada reiterated an "outperform" rating and issued a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. Finally, UBS Group upped their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a 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 issued a strong buy rating to the company. According to data from MarketBeat, Medtronic has a consensus rating of "Hold" and an average target price of $96.07.

Medtronic Trading Up 4.3 %

Shares of Medtronic stock traded up $3.54 during trading on Wednesday, hitting $85.42. The stock had a trading volume of 11,980,488 shares, compared to its average volume of 6,662,947. The firm's fifty day simple moving average is $90.04 and its 200-day simple moving average is $87.74. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. 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 stock has a market cap of $109.55 billion, a PE ratio of 25.96, a PEG ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates 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 expect 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 issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio (DPR) is 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.