Baird Financial Group Inc. Raises Stock Position in Medtronic plc (NYSE:MDT)

Baird Financial Group Inc. lifted its stake in Medtronic plc (NYSE:MDT - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 977,630 shares of the medical technology company's stock after purchasing an additional 56,034 shares during the period. Baird Financial Group Inc. owned 0.08% of Medtronic worth $78,093,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Franklin Street Advisors Inc. NC grew its holdings in shares of Medtronic by 32.6% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company's stock worth $5,873,000 after acquiring an additional 18,057 shares during the period. Olstein Capital Management L.P. boosted its position in shares of Medtronic by 8.0% during the fourth quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company's stock valued at $7,509,000 after purchasing an additional 7,000 shares in the last quarter. Czech National Bank grew its stake in Medtronic by 6.4% in the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company's stock worth $22,212,000 after purchasing an additional 16,786 shares during the period. Empowered Funds LLC raised its holdings in Medtronic by 2.7% in the fourth quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company's stock worth $8,453,000 after purchasing an additional 2,778 shares in the last quarter. Finally, Talbot Financial LLC lifted its position in Medtronic by 6.4% during the fourth quarter. Talbot Financial LLC now owns 133,453 shares of the medical technology company's stock valued at $10,660,000 after buying an additional 8,031 shares during the period. Institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

Shares of MDT opened at $84.74 on Monday. The firm has a fifty day simple moving average of $87.65 and a two-hundred day simple moving average of $87.06. The firm has a market cap of $108.68 billion, a PE ratio of 25.76, a P/E/G ratio of 2.22 and a beta of 0.79. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic's dividend payout ratio is presently 85.11%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MDT shares. Truist Financial decreased their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and upped their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Robert W. Baird lifted their price objective on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of "Hold" and a consensus target price of $96.14.

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.

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