Medtronic plc (NYSE:MDT) Stock Holdings Trimmed by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV reduced its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 277,281 shares of the medical technology company's stock after selling 11,472 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Medtronic were worth $22,149,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Morse Asset Management Inc acquired a new stake in shares of Medtronic in the 3rd quarter worth $225,000. Wilmington Savings Fund Society FSB increased its holdings in Medtronic by 449.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 73,373 shares of the medical technology company's stock valued at $6,606,000 after purchasing an additional 60,016 shares during the last quarter. Synovus Financial Corp lifted its stake in Medtronic by 1.2% during the third quarter. Synovus Financial Corp now owns 66,738 shares of the medical technology company's stock worth $6,008,000 after purchasing an additional 783 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Medtronic during the third quarter worth $415,000. Finally, Versant Capital Management Inc grew its stake in shares of Medtronic by 15.4% in the fourth quarter. Versant Capital Management Inc now owns 1,788 shares of the medical technology company's stock valued at $143,000 after buying an additional 238 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Ratings Changes

MDT has been the topic of a number of recent research reports. Truist Financial cut their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Royal Bank of Canada reissued an "outperform" rating and set a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and increased their price target for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Robert W. Baird upped their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Finally, UBS Group boosted their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $96.14.

Medtronic Price Performance

Shares of Medtronic stock traded up $0.80 during trading on Wednesday, reaching $83.12. The company's stock had a trading volume of 3,077,237 shares, compared to its average volume of 7,525,728. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average price of $87.34 and a 200-day moving average price of $86.96. The company has a market capitalization of $106.60 billion, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81.

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 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 during the quarter, compared to the consensus estimate of $8.33 billion. As a group, sell-side analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.37%. Medtronic's payout ratio is currently 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.