Medtronic plc (NYSE:MDT) Shares Bought by MetLife Investment Management LLC

MetLife Investment Management LLC boosted its position in Medtronic plc (NYSE:MDT - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 339,472 shares of the medical technology company's stock after acquiring an additional 5,939 shares during the quarter. MetLife Investment Management LLC's holdings in Medtronic were worth $27,117,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Mainstream Capital Management LLC acquired a new position in Medtronic in the fourth quarter valued at approximately $26,000. Stephens Consulting LLC raised its stake in Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 204 shares during the last quarter. Rakuten Securities Inc. raised its stake in shares of Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after purchasing an additional 294 shares during the last quarter. Fiduciary Advisors Inc. acquired a new stake in shares of Medtronic in the 4th quarter worth $36,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Medtronic in the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Ratings Changes

MDT has been the topic of several recent analyst reports. UBS Group upped their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Truist Financial decreased their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Royal Bank of Canada reissued an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Robert W. Baird boosted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $96.14.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares of the company's stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.20% of the company's stock.

Medtronic Stock Up 0.5 %

Shares of Medtronic stock traded up $0.38 during trading hours on Wednesday, hitting $83.75. 6,467,058 shares of the company's stock traded hands, compared to its average volume of 6,673,968. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The company has a market cap of $107.41 billion, a PE ratio of 25.46, a PEG ratio of 2.22 and a beta of 0.79. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The stock has a 50 day simple moving average of $88.54 and a 200-day simple moving average of $87.34.

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

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.34%. Medtronic's payout ratio is 85.11%.

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.