Northwestern Mutual Wealth Management Co. Increases Stock Holdings in Medtronic PLC $MDT

Northwestern Mutual Wealth Management Co. raised its stake in Medtronic PLC (NYSE:MDT) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,792 shares of the medical technology company’s stock after purchasing an additional 7,984 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Medtronic were worth $16,983,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC purchased a new position in Medtronic in the fourth quarter valued at approximately $27,000. Anfield Capital Management LLC increased its stake in Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 230 shares during the last quarter. Board of the Pension Protection Fund purchased a new position in Medtronic in the fourth quarter valued at approximately $29,000. GoalVest Advisory LLC purchased a new position in Medtronic in the fourth quarter valued at approximately $29,000. Finally, Imprint Wealth LLC acquired a new stake in shares of Medtronic in the third quarter valued at approximately $31,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Price Performance

Shares of NYSE MDT opened at $73.73 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. The stock has a fifty day moving average price of $82.36 and a 200 day moving average price of $92.64. Medtronic PLC has a 1-year low of $73.67 and a 1-year high of $106.33. The company has a market cap of $94.66 billion, a PE ratio of 20.54, a P/E/G ratio of 1.76 and a beta of 0.58.

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 issued 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 dividend yield of 3.9%. Medtronic’s dividend payout ratio (DPR) is currently 79.11%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Medtronic from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Truist Financial decreased their price objective on Medtronic from $103.00 to $95.00 and set a “hold” rating for the company in a report on Wednesday, April 15th. The Goldman Sachs Group set a $84.00 price objective on Medtronic and gave the company a “neutral” rating in a report on Thursday, May 21st. UBS Group decreased their price objective on Medtronic from $104.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, April 22nd. Finally, Mizuho decreased their price objective on Medtronic from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Fifteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $106.45.

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).