Logan Capital Management Inc. Has $8.90 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Logan Capital Management Inc. trimmed its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,422 shares of the medical technology company's stock after selling 6,897 shares during the quarter. Logan Capital Management Inc.'s holdings in Medtronic were worth $8,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in MDT. LRI Investments LLC increased its stake in shares of Medtronic by 4.9% during the 4th quarter. LRI Investments LLC now owns 11,130 shares of the medical technology company's stock worth $889,000 after purchasing an additional 515 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC boosted its stake in shares of Medtronic by 6.6% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 19,840 shares of the medical technology company's stock worth $1,585,000 after acquiring an additional 1,232 shares in the last quarter. Laurion Capital Management LP grew its holdings in Medtronic by 24.5% during the fourth quarter. Laurion Capital Management LP now owns 91,374 shares of the medical technology company's stock valued at $7,299,000 after purchasing an additional 17,971 shares during the last quarter. Investment Management Corp of Ontario raised its holdings in Medtronic by 7.0% in the 4th quarter. Investment Management Corp of Ontario now owns 72,339 shares of the medical technology company's stock worth $5,778,000 after acquiring an additional 4,724 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of Medtronic by 0.7% during the 4th quarter. Janus Henderson Group PLC now owns 3,877,532 shares of the medical technology company's stock worth $309,762,000 after purchasing an additional 26,618 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MDT. UBS Group boosted their price objective on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Truist Financial reduced their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Robert W. Baird raised their price target on shares of Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Royal Bank of Canada restated an "outperform" rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $96.14.

Medtronic Stock Up 0.4%

NYSE MDT traded up $0.30 during trading hours on Friday, reaching $86.41. 4,641,541 shares of the company's stock were exchanged, compared to its average volume of 6,743,613. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The company has a market capitalization of $110.83 billion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The company's 50-day moving average is $86.07 and its two-hundred day moving average is $86.67. Medtronic plc has a one year low of $75.96 and a one year high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last issued 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 company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic's dividend payout ratio is presently 85.11%.

Medtronic Company 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.