Medtronic PLC $MDT Shares Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. raised its stake in Medtronic PLC (NYSE:MDT) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 176,792 shares of the medical technology company’s stock after buying an additional 7,984 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Medtronic were worth $16,983,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

MDT has been the topic of a number of recent research reports. Leerink Partners reiterated an “outperform” rating and set a $119.00 price target on shares of Medtronic in a research note on Tuesday, March 10th. The Goldman Sachs Group set a $84.00 price target on shares of Medtronic and gave the stock a “neutral” rating in a research note on Thursday, May 21st. Mizuho cut their price target on shares of Medtronic from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Robert W. Baird boosted their price target 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. Finally, JPMorgan Chase & Co. cut their target price on shares of Medtronic from $105.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $106.45.

Medtronic Stock Down 0.1%

MDT stock opened at $73.73 on Monday. The company’s 50 day moving average price is $82.36 and its 200 day moving average price is $92.64. 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 PLC has a fifty-two week low of $73.67 and a fifty-two week high of $106.33. The firm has a market capitalization of $94.66 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.76 and a beta of 0.58.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Friday, March 27th. Medtronic’s dividend payout ratio is presently 79.11%.

Medtronic 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).