Profund Advisors LLC lifted its holdings in Medtronic PLC (NYSE:MDT) by 9.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,247 shares of the medical technology company’s stock after purchasing an additional 3,390 shares during the period. Profund Advisors LLC’s holdings in Medtronic were worth $4,339,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. State Street Corp boosted its holdings in shares of Medtronic by 1.0% in the fourth quarter. State Street Corp now owns 57,863,179 shares of the medical technology company’s stock worth $6,595,491,000 after buying an additional 567,864 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Medtronic by 23.2% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 8,968,638 shares of the medical technology company’s stock worth $1,017,493,000 after buying an additional 1,690,287 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in shares of Medtronic by 6.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 8,222,384 shares of the medical technology company’s stock worth $932,829,000 after buying an additional 520,148 shares during the period. Sanders Capital LLC boosted its holdings in shares of Medtronic by 10.6% during the fourth quarter. Sanders Capital LLC now owns 6,765,155 shares of the medical technology company’s stock worth $868,534,000 after purchasing an additional 647,278 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Medtronic by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,598,082 shares of the medical technology company’s stock worth $748,553,000 after purchasing an additional 81,561 shares during the period. Institutional investors own 82.55% of the company’s stock.
In related news, CEO Omar Ishrak bought 8,771 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average price of $110.87 per share, with a total value of $972,440.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.28% of the company’s stock.
Several analysts recently commented on MDT shares. Guggenheim upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and set a $135.00 price target for the company in a report on Thursday, January 2nd. They noted that the move was a valuation call. Piper Sandler restated a “buy” rating and set a $135.00 price target on shares of Medtronic in a report on Tuesday, February 18th. ValuEngine cut shares of Medtronic from a “hold” rating to a “sell” rating in a report on Friday, February 28th. UBS Group raised their price target on shares of Medtronic from $127.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Morgan Stanley raised their price target on shares of Medtronic from $116.00 to $123.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $120.77.
Shares of NYSE:MDT traded up $5.12 during trading on Thursday, reaching $91.94. The stock had a trading volume of 12,537,661 shares, compared to its average volume of 9,524,935. Medtronic PLC has a 52 week low of $72.13 and a 52 week high of $122.15. The firm has a market capitalization of $107.68 billion, a price-to-earnings ratio of 23.34, a P/E/G ratio of 2.01 and a beta of 0.67. The company has a quick ratio of 2.28, a current ratio of 2.75 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $102.06 and a two-hundred day simple moving average of $109.17.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.44 EPS for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.06. Medtronic had a net margin of 17.11% and a return on equity of 14.76%. The company had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.80 billion. During the same quarter last year, the firm posted $1.29 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, analysts forecast that Medtronic PLC will post 5.64 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, March 27th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, March 26th. Medtronic’s dividend payout ratio (DPR) is currently 41.38%.
Medtronic Company Profile
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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