Capital Research Global Investors Grows Holdings in Medtronic plc (NYSE:MDT)

Capital Research Global Investors boosted its stake in Medtronic plc (NYSE:MDT - Free Report) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,203,685 shares of the medical technology company's stock after purchasing an additional 571,700 shares during the period. Capital Research Global Investors owned about 2.59% of Medtronic worth $2,652,310,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Morse Asset Management Inc acquired a new position in shares of Medtronic during the third quarter worth approximately $225,000. Te Ahumairangi Investment Management Ltd raised its holdings in Medtronic by 4.1% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 52,321 shares of the medical technology company's stock worth $4,684,000 after buying an additional 2,050 shares during the last quarter. Chelsea Counsel Co. bought a new position in shares of Medtronic in the third quarter valued at $45,000. Tudor Financial Inc. acquired a new position in shares of Medtronic during the third quarter valued at about $586,000. Finally, Anchor Investment Management LLC raised its holdings in shares of Medtronic by 1.2% in the 3rd quarter. Anchor Investment Management LLC now owns 107,518 shares of the medical technology company's stock worth $9,680,000 after acquiring an additional 1,271 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the business'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 $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.20% of the company's stock.

Medtronic Trading Up 0.7 %

NYSE:MDT traded up $0.59 during trading hours on Thursday, reaching $84.34. The company's stock had a trading volume of 3,248,245 shares, compared to its average volume of 7,697,082. The firm has a 50-day simple moving average of $88.36 and a 200-day simple moving average of $87.31. 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 1 year low of $75.96 and a 1 year high of $96.25. The firm has a market capitalization of $108.17 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic's dividend payout ratio (DPR) is currently 85.11%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MDT. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Truist Financial reduced their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. UBS Group upped their price objective on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $96.14.

Medtronic 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.