Northwestern Mutual Wealth Management Co. Has $1.79 Million Position in Medtronic PLC $MDT

Key Points

• Northwestern Mutual Wealth Management cut its Medtronic stake by 89% in the fourth quarter, selling 150,166 shares and leaving it with 18,642 shares valued at about $1.79 million.
• Several other institutional investors increased their holdings, and overall institutional ownership remains high at about 82.06% of Medtronic’s stock.
• Medtronic is facing a mixed near-term backdrop: it plans to acquire SPR Therapeutics, but analysts are also looking for a decline in earnings ahead of the company’s upcoming report, while the stock recently fell to around $75.98.

Northwestern Mutual Wealth Management Co. lowered its position in Medtronic PLC (NYSE:MDT - Free Report) by 89.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,642 shares of the medical technology company's stock after selling 150,166 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Medtronic were worth $1,791,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Artisan Partners Limited Partnership lifted its stake in shares of Medtronic by 2.6% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company's stock worth $117,579,000 after buying an additional 31,314 shares during the last quarter. CSM Advisors LLC increased its position 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 acquiring an additional 33,167 shares during the period. SageView Advisory Group LLC increased its holdings in Medtronic by 164.8% in the 3rd quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company's stock valued at $2,305,000 after buying an additional 15,062 shares during the period. UMB Bank n.a. increased its holdings in Medtronic by 65.8% in the 3rd quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company's stock valued at $13,170,000 after buying an additional 54,898 shares during the period. Finally, Bleakley Financial Group LLC increased its holdings in Medtronic by 17.8% in the 3rd quarter. Bleakley Financial Group LLC now owns 87,313 shares of the medical technology company's stock valued at $8,316,000 after buying an additional 13,177 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Key Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic announced its intention to acquire SPR Therapeutics, a move that could expand its pain-management portfolio and support longer-term growth. Medtronic plc (MDT) Announces Intention to Acquire SPR Therapeutics (SPR)
• Positive Sentiment: Analysts noted broad MedSurg, cardiovascular, and diabetes strength could help Medtronic’s fiscal Q4 results, suggesting some underlying operational support. Broad-Based MedSurg Growth Likely to Aid MDT's Q4 Performance
• Neutral Sentiment: Medtronic is expected to report earnings on Wednesday, keeping investors focused on whether results and guidance can reset expectations. Medtronic (MDT) Expected to Announce Earnings on Wednesday
• Neutral Sentiment: Industry comparisons continue to highlight competition in surgical robotics, with Intuitive Surgical seen as having the stronger growth profile than Medtronic’s Hugo platform. ISRG vs. MDT: Which Surgical Robot Stock Is the Better Buy?
• Negative Sentiment: Analysts are looking for a decline in Medtronic’s earnings and say the company may not have the right setup for an earnings beat, which is weighing on sentiment ahead of the report. Analysts Estimate Medtronic (MDT) to Report a Decline in Earnings: What to Look Out for
• Negative Sentiment: Recent trading showed the stock weakening despite a broader market gain, reinforcing cautious investor sentiment. Medtronic (MDT) Stock Drops Despite Market Gains: Important Facts to Note

Analyst Upgrades and Downgrades

MDT has been the topic of a number of research analyst reports. Robert W. Baird raised their price target on shares of Medtronic from $92.00 to $93.00 and gave the company a "neutral" rating in a research note on Wednesday, April 15th. The Goldman Sachs Group set a $84.00 price target on shares of Medtronic and gave the stock a "neutral" rating in a research report on Thursday, May 21st. Needham & Company LLC restated a "buy" rating and issued a $120.00 price target on shares of Medtronic in a research report on Thursday, March 26th. Argus lowered their price objective on shares of Medtronic from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, April 6th. Finally, CICC Research began coverage on shares of Medtronic in a research note on Friday, January 30th. They issued an "outperform" rating for the company. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Medtronic has an average rating of "Moderate Buy" and a consensus price target of $106.45.

Medtronic Stock Down 2.1%

Shares of NYSE:MDT opened at $75.98 on Thursday. The company has a market capitalization of $97.55 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 1.85 and a beta of 0.62. The business has a fifty day moving average price of $82.89 and a two-hundred day moving average price of $92.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. Medtronic PLC has a 1 year low of $74.40 and a 1 year high of $106.33.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, March 27th. This represents a $2.84 annualized dividend and a dividend yield of 3.7%. Medtronic's dividend payout ratio (DPR) is presently 79.11%.

Medtronic Company 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).

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