Medtronic plc (NYSE:MDT) Shares Acquired by Invesco Ltd.

Invesco Ltd. boosted its stake in Medtronic plc (NYSE:MDT - Free Report) by 17.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,445,284 shares of the medical technology company's stock after purchasing an additional 2,333,600 shares during the period. Invesco Ltd. owned approximately 1.20% of Medtronic worth $1,233,769,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MDT. Guardian Wealth Management Inc. lifted its holdings in Medtronic by 0.9% in the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company's stock valued at $1,182,000 after acquiring an additional 115 shares during the period. MONECO Advisors LLC grew its holdings in shares of Medtronic by 1.8% in the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock worth $512,000 after acquiring an additional 115 shares during the period. OLD Second National Bank of Aurora raised its holdings in Medtronic by 0.3% during the fourth quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock worth $2,900,000 after purchasing an additional 121 shares during the last quarter. McKinley Carter Wealth Services Inc. boosted its position in Medtronic by 0.7% during the fourth quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company's stock worth $1,572,000 after purchasing an additional 129 shares in the last quarter. Finally, Vestor Capital LLC grew its holdings in Medtronic by 0.3% in the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock valued at $4,104,000 after purchasing an additional 138 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

MDT has been the topic of several recent research reports. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Robert W. Baird raised their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. UBS Group lifted their price objective on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and increased their target price for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Finally, Truist Financial reduced their price objective on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given 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 price target of $96.07.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

Medtronic Stock Down 2.6 %

Medtronic stock traded down $2.23 during trading on Thursday, reaching $83.05. 3,724,926 shares of the company's stock were exchanged, compared to its average volume of 6,652,036. The company's 50-day moving average is $90.04 and its two-hundred day moving average is $87.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The firm has a market cap of $106.52 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.37%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio (DPR) is 85.11%.

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.