Advisor Group Holdings Inc. increased its position in shares of Medtronic plc (NYSE:MDT – Get Rating) by 11.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 609,610 shares of the medical technology company’s stock after buying an additional 62,922 shares during the period. Advisor Group Holdings Inc.’s holdings in Medtronic were worth $47,407,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in MDT. Vanguard Group Inc. lifted its stake in shares of Medtronic by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 123,861,994 shares of the medical technology company’s stock worth $10,001,857,000 after purchasing an additional 1,056,995 shares during the last quarter. BlackRock Inc. lifted its position in shares of Medtronic by 5.1% during the third quarter. BlackRock Inc. now owns 115,998,561 shares of the medical technology company’s stock valued at $9,366,883,000 after buying an additional 5,620,477 shares during the last quarter. State Street Corp boosted its holdings in shares of Medtronic by 1.6% in the 3rd quarter. State Street Corp now owns 58,989,713 shares of the medical technology company’s stock valued at $4,802,998,000 after buying an additional 928,929 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Medtronic by 33.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,374,686 shares of the medical technology company’s stock worth $1,564,508,000 after buying an additional 4,816,172 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Medtronic by 4.6% during the 3rd quarter. Royal Bank of Canada now owns 13,702,223 shares of the medical technology company’s stock worth $1,106,453,000 after acquiring an additional 608,587 shares in the last quarter. 80.37% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
MDT has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Medtronic from $80.00 to $87.00 in a report on Wednesday, February 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $89.00 price target on shares of Medtronic in a report on Friday, April 21st. Wells Fargo & Company upgraded shares of Medtronic from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $77.00 to $100.00 in a report on Monday, April 24th. Truist Financial lifted their target price on shares of Medtronic from $88.00 to $93.00 in a research note on Monday, April 24th. Finally, Mizuho cut their price target on shares of Medtronic from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday, January 24th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $90.11.
Medtronic Stock Performance
MDT opened at $89.50 on Tuesday. The firm has a fifty day moving average price of $84.32 and a 200 day moving average price of $82.04. Medtronic plc has a 1 year low of $75.76 and a 1 year high of $106.06. The stock has a market cap of $119.07 billion, a P/E ratio of 29.44, a P/E/G ratio of 2.15 and a beta of 0.71. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.76 and a quick ratio of 1.39.
Medtronic (NYSE:MDT – Get Rating) last posted its earnings results on Tuesday, February 21st. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.03. The business had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.53 billion. Medtronic had a net margin of 13.20% and a return on equity of 13.37%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the company posted $1.37 EPS. Equities research analysts anticipate that Medtronic plc will post 5.28 earnings per share for the current year.
Medtronic Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Friday, March 24th were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Thursday, March 23rd. Medtronic’s dividend payout ratio (DPR) is presently 89.47%.
Medtronic Company Profile
Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiovascular Porrtfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.
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