CORDA Investment Management LLC. Has $19.91 Million Stake in Medtronic plc (NYSE:MDT)

CORDA Investment Management LLC. lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 3.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 249,271 shares of the medical technology company’s stock after acquiring an additional 7,386 shares during the quarter. CORDA Investment Management LLC.’s holdings in Medtronic were worth $19,912,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. State Street Corp boosted its position in Medtronic by 0.9% during the third quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock worth $5,509,155,000 after purchasing an additional 520,027 shares during the period. Pzena Investment Management LLC lifted its stake in shares of Medtronic by 3.3% during the 3rd quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock worth $772,727,000 after buying an additional 275,870 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Medtronic by 436.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock worth $661,125,000 after buying an additional 5,975,110 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Medtronic by 11.5% during the 3rd quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company’s stock worth $530,612,000 after buying an additional 609,391 shares during the period. Finally, Stifel Financial Corp grew its stake in Medtronic by 2.9% in the 3rd quarter. Stifel Financial Corp now owns 5,842,020 shares of the medical technology company’s stock valued at $525,960,000 after buying an additional 164,700 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MDT has been the subject of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. Barclays boosted their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Sanford C. Bernstein increased their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Truist Financial reduced their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company lowered their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Medtronic presently has an average rating of “Hold” and an average target price of $95.00.

Insider Activity at Medtronic

In related 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 transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

Medtronic Price Performance

MDT stock opened at $90.67 on Friday. The company’s 50-day moving average price is $86.86 and its two-hundred day moving average price is $87.35. The firm has a market cap of $116.26 billion, a P/E ratio of 27.56, a P/E/G ratio of 2.22 and a beta of 0.84. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. On average, analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.09%. 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.