Cooke & Bieler LP Has $87.66 Million Stake in Medtronic plc (NYSE:MDT)

Cooke & Bieler LP decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 1.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,097,382 shares of the medical technology company’s stock after selling 20,143 shares during the period. Cooke & Bieler LP’s holdings in Medtronic were worth $87,659,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Fairway Wealth LLC acquired a new stake in shares of Medtronic during the 4th quarter worth approximately $73,000. GC Wealth Management RIA LLC grew its position in shares of Medtronic by 18.8% during the 4th quarter. GC Wealth Management RIA LLC now owns 26,143 shares of the medical technology company’s stock worth $2,088,000 after buying an additional 4,145 shares during the period. Global View Capital Management LLC acquired a new stake in shares of Medtronic during the 4th quarter worth approximately $527,000. S&CO Inc. grew its position in shares of Medtronic by 1.3% during the 4th quarter. S&CO Inc. now owns 118,523 shares of the medical technology company’s stock worth $9,467,000 after buying an additional 1,548 shares during the period. Finally, Dearborn Partners LLC grew its holdings in Medtronic by 7.9% during the fourth quarter. Dearborn Partners LLC now owns 72,027 shares of the medical technology company’s stock valued at $5,754,000 after purchasing an additional 5,252 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MDT shares. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Barclays boosted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Robert W. Baird boosted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, 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. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus 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 the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

Medtronic Stock Performance

Shares of MDT opened at $93.75 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The firm’s 50 day moving average price is $88.62 and its two-hundred day moving average price is $87.84. The firm has a market cap of $120.24 billion, a P/E ratio of 28.50, a PEG ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion for 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%. On average, analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio is presently 85.11%.

About Medtronic

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.