Medtronic plc (NYSE:MDT) Holdings Raised by Sei Investments Co.

Sei Investments Co. grew its stake in shares of Medtronic plc (NYSE:MDT) by 8.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,102,799 shares of the medical technology company’s stock after purchasing an additional 83,393 shares during the period. Sei Investments Co. owned about 0.09% of Medtronic worth $88,105,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Vestor Capital LLC lifted its holdings in shares of Medtronic by 0.3% during the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company’s stock valued at $4,104,000 after purchasing an additional 138 shares during the last quarter. Mizuho Securities USA LLC lifted its holdings in shares of Medtronic by 46.1% during the fourth quarter. Mizuho Securities USA LLC now owns 121,549 shares of the medical technology company’s stock valued at $9,709,000 after purchasing an additional 38,379 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Medtronic during the fourth quarter valued at $3,713,000. Quantbot Technologies LP purchased a new stake in Medtronic in the 4th quarter worth about $2,238,000. Finally, Millstone Evans Group LLC purchased a new stake in Medtronic in the 4th quarter worth about $302,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Performance

Shares of NYSE MDT opened at $90.37 on Friday. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a market cap of $115.90 billion, a P/E ratio of 27.47, a P/E/G ratio of 2.22 and a beta of 0.80. The business’s 50 day moving average is $90.67 and its two-hundred day moving average is $88.07. 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 (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. On average, equities analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Friday, March 28th. Medtronic’s payout ratio is presently 85.11%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MDT. Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Truist Financial cut their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Robert W. Baird raised their price target on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and raised their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, UBS Group raised their price objective on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note 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, Medtronic currently has an average rating of “Hold” and a consensus price target of $96.07.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

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.