Bank of New York Mellon Corp Has $1.84 Billion Holdings in Medtronic PLC $MDT

Bank of New York Mellon Corp reduced its stake in shares of Medtronic PLC (NYSE:MDT) by 11.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,111,075 shares of the medical technology company’s stock after selling 2,357,185 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.49% of Medtronic worth $1,835,810,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Lodestone Wealth Management LLC bought a new position in Medtronic during the fourth quarter valued at about $27,000. Anfield Capital Management LLC boosted its stake in shares of Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 230 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in shares of Medtronic during the 4th quarter valued at about $29,000. GoalVest Advisory LLC bought a new position in shares of Medtronic in the 4th quarter valued at approximately $29,000. Finally, Imprint Wealth LLC bought a new position in shares of Medtronic in the 3rd quarter valued at approximately $31,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MDT shares. Robert W. Baird boosted their price objective on shares of Medtronic from $92.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Stifel Nicolaus dropped their target price on shares of Medtronic from $105.00 to $95.00 and set a “hold” rating on the stock in a report on Monday, April 6th. Jefferies Financial Group reissued a “hold” rating and set a $95.00 target price on shares of Medtronic in a research report on Thursday, April 23rd. UBS Group decreased their price target on shares of Medtronic from $104.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, April 22nd. Finally, The Goldman Sachs Group set a $84.00 price target on Medtronic and gave the company a “neutral” rating in a research report on Thursday, May 21st. Fifteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.45.

Medtronic Stock Down 0.3%

NYSE MDT opened at $73.72 on Wednesday. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The stock has a market cap of $94.65 billion, a PE ratio of 20.54, a PEG ratio of 1.76 and a beta of 0.58. The firm has a 50-day simple moving average of $82.11 and a 200 day simple moving average of $92.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54.

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 given a $0.71 dividend. The ex-dividend date was Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.9%. Medtronic’s dividend payout ratio (DPR) is currently 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).