China Universal Asset Management Co. Ltd. Invests $1.16 Million in Medtronic plc (NYSE:MDT)

China Universal Asset Management Co. Ltd. purchased a new stake in shares of Medtronic plc (NYSE:MDT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 14,362 shares of the medical technology company's stock, valued at approximately $1,155,000.

A number of other institutional investors have also recently made changes to their positions in MDT. Centaurus Financial Inc. boosted its position in shares of Medtronic by 34.8% during the 2nd quarter. Centaurus Financial Inc. now owns 6,250 shares of the medical technology company's stock valued at $492,000 after purchasing an additional 1,613 shares in the last quarter. Czech National Bank raised its holdings in shares of Medtronic by 3.3% in the third quarter. Czech National Bank now owns 261,279 shares of the medical technology company's stock valued at $23,523,000 after purchasing an additional 8,249 shares during the last quarter. Curbstone Financial Management Corp bought a new position in shares of Medtronic during the third quarter valued at about $413,000. Park Avenue Securities LLC boosted its holdings in Medtronic by 3.3% during the third quarter. Park Avenue Securities LLC now owns 24,993 shares of the medical technology company's stock worth $2,250,000 after purchasing an additional 809 shares during the last quarter. Finally, Biltmore Wealth Management LLC grew its holdings in shares of Medtronic by 8.0% in the third quarter. Biltmore Wealth Management LLC now owns 6,925 shares of the medical technology company's stock valued at $623,000 after acquiring an additional 510 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Medtronic Trading Up 0.5 %

MDT traded up $0.46 during midday trading on Tuesday, reaching $90.99. 5,193,094 shares of the company's stock traded hands, compared to its average volume of 7,546,100. The stock has a market capitalization of $116.67 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 2.57 and a beta of 0.84. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08. The firm has a fifty day moving average of $84.47 and a two-hundred day moving average of $86.16. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the prior year, the company earned $1.25 EPS. The business's revenue was up 5.2% compared to the same quarter last year. On average, equities analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic's payout ratio is 85.63%.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Truist Financial decreased their price objective on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, December 18th. Robert W. Baird cut their target price on Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a research note on Wednesday, November 20th. Barclays upped their target price on Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 26th. Royal Bank of Canada upgraded shares of Medtronic from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Finally, Wells Fargo & Company cut their price objective on Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $95.00.

Medtronic Company Profile

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.