Medtronic plc (NYSE:MDT) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. boosted its stake in Medtronic plc (NYSE:MDT) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 124,203,387 shares of the medical technology company’s stock after acquiring an additional 754,395 shares during the period. Vanguard Group Inc. owned 0.10% of Medtronic worth $9,921,367,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Mainstream Capital Management LLC purchased a new stake in shares of Medtronic during the 4th quarter worth approximately $26,000. Stephens Consulting LLC increased its holdings in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 204 shares in the last quarter. Rakuten Securities Inc. grew its stake in shares of Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 294 shares in the last quarter. J. Stern & Co. LLP bought a new position in shares of Medtronic during the third quarter worth about $30,000. Finally, Fiduciary Advisors Inc. bought a new position in shares of Medtronic during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Down 0.9 %

Medtronic stock opened at $90.37 on Friday. The company has a market cap of $115.90 billion, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The company has a fifty day simple moving average of $90.67 and a 200 day simple moving average of $88.07. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Research analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s payout ratio is 85.11%.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group raised their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Barclays lifted their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Robert W. Baird lifted their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Truist Financial decreased their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $96.07.

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.