Grandfield & Dodd LLC Trims Position in Medtronic PLC $MDT

Grandfield & Dodd LLC decreased its position in shares of Medtronic PLC (NYSE:MDT) by 10.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 75,159 shares of the medical technology company’s stock after selling 8,520 shares during the quarter. Grandfield & Dodd LLC’s holdings in Medtronic were worth $7,220,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Medtronic by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock valued at $12,388,027,000 after buying an additional 1,888,381 shares during the period. State Street Corp lifted its stake in shares of Medtronic by 1.0% during the third quarter. State Street Corp now owns 60,460,537 shares of the medical technology company’s stock valued at $5,800,550,000 after buying an additional 625,992 shares during the period. Geode Capital Management LLC lifted its stake in shares of Medtronic by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock valued at $2,665,832,000 after buying an additional 231,919 shares during the period. Norges Bank purchased a new position in shares of Medtronic during the fourth quarter valued at approximately $1,653,485,000. Finally, Raymond James Financial Inc. lifted its stake in shares of Medtronic by 3.0% during the third quarter. Raymond James Financial Inc. now owns 11,203,865 shares of the medical technology company’s stock valued at $1,067,055,000 after buying an additional 327,899 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MDT shares. Robert W. Baird upped their price objective 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 objective on shares of Medtronic and gave the company a “neutral” rating in a research note on Thursday, May 21st. Stifel Nicolaus dropped their price target on shares of Medtronic from $105.00 to $95.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Truist Financial dropped their price target on shares of Medtronic from $103.00 to $95.00 and set a “hold” rating for the company in a research report on Wednesday, April 15th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $95.00 price target on shares of Medtronic in a research report on Thursday, April 23rd. Fifteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and a consensus target price of $106.45.

Medtronic Stock Performance

Shares of MDT stock opened at $73.73 on Friday. Medtronic PLC has a one year low of $73.67 and a one year high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The company has a 50 day moving average price of $82.36 and a 200 day moving average price of $92.65. The firm has a market capitalization of $94.66 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 1.76 and a beta of 0.62.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.9%. Medtronic’s dividend payout ratio is 79.11%.

Medtronic 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).