Medtronic plc (NYSE:MDT) Shares Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. grew its position in Medtronic plc (NYSE:MDT - Free Report) by 42.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,236 shares of the medical technology company's stock after purchasing an additional 20,649 shares during the quarter. iA Global Asset Management Inc.'s holdings in Medtronic were worth $6,233,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Fortitude Family Office LLC acquired a new position in Medtronic during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic in the 3rd quarter valued at approximately $27,000. J. Stern & Co. LLP acquired a new stake in Medtronic in the 3rd quarter worth approximately $30,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Medtronic during the 2nd quarter worth approximately $43,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of MDT traded down $0.13 during mid-day trading on Friday, reaching $84.01. 4,310,061 shares of the company's stock were exchanged, compared to its average volume of 6,777,642. The business's fifty day simple moving average is $88.25 and its 200-day simple moving average is $84.99. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The stock has a market capitalization of $107.73 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 2.42 and a beta of 0.82. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly 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 business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the previous year, the company posted $1.25 EPS. The business's revenue was up 5.2% on a year-over-year basis. On average, equities research analysts expect that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.33%. Medtronic's dividend payout ratio is currently 85.63%.

Analysts Set New Price Targets

MDT has been the topic of several research reports. Stifel Nicolaus upped their target price on Medtronic from $85.00 to $87.00 and gave the company a "hold" rating in a research report on Wednesday, August 21st. Daiwa America raised Medtronic to a "strong-buy" rating in a report on Friday, August 23rd. Wells Fargo & Company decreased their target price on Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, November 20th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Monday, November 18th. Finally, Robert W. Baird reduced their price target on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $95.27.

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.