Natixis Advisors L.P. Buys 83,816 Shares of Medtronic plc (NYSE:MDT)

Natixis Advisors L.P. lifted its stake in Medtronic plc (NYSE:MDT - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,063,337 shares of the medical technology company's stock after purchasing an additional 83,816 shares during the period. Natixis Advisors L.P. owned about 0.08% of Medtronic worth $87,597,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. BKM Wealth Management LLC bought a new position in shares of Medtronic in the fourth quarter worth about $941,000. International Assets Investment Management LLC lifted its stake in Medtronic by 8,340.3% in the fourth quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company's stock worth $85,558,000 after acquiring an additional 1,026,274 shares during the period. Tower Research Capital LLC TRC lifted its stake in Medtronic by 69.3% in the third quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company's stock worth $3,172,000 after acquiring an additional 16,574 shares during the period. Exchange Traded Concepts LLC lifted its stake in Medtronic by 109,325.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 91,917 shares of the medical technology company's stock worth $7,572,000 after acquiring an additional 91,833 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new stake in Medtronic in the fourth quarter worth about $6,623,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Up 0.9 %

Shares of MDT traded up $0.76 during mid-day trading on Friday, hitting $81.68. 4,986,685 shares of the company traded hands, compared to its average volume of 6,228,588. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $91.00. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $108.46 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 2.64 and a beta of 0.78. The business has a 50 day moving average of $83.16 and a 200 day moving average of $81.37.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.04. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The company had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the prior year, the company earned $1.30 EPS. Medtronic's quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.38%. Medtronic's dividend payout ratio (DPR) is 87.90%.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of research reports. Truist Financial upped their price objective on shares of Medtronic from $87.00 to $90.00 and gave the stock a "hold" rating in a research note on Wednesday, February 21st. Mizuho increased their price target on shares of Medtronic from $95.00 to $98.00 and gave the company a "buy" rating in a research report on Wednesday, February 21st. Oppenheimer increased their price target on shares of Medtronic from $89.00 to $92.00 and gave the company a "market perform" rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $94.91.

Insider Activity

In other news, EVP Michael Marinaro sold 854 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the firm's stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total value of $2,613,065.35. Following the transaction, the executive vice president now owns 48,289 shares in the company, valued at approximately $4,110,842.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Marinaro sold 854 shares of the firm's stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the transaction, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

Medtronic 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.

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