Medtronic plc (NYSE:MDT) Position Raised by First Trust Advisors LP

First Trust Advisors LP lifted its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 954,771 shares of the medical technology company's stock after buying an additional 12,706 shares during the quarter. First Trust Advisors LP owned 0.07% of Medtronic worth $76,267,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Medtronic during the fourth quarter worth $1,163,580,000. Raymond James Financial Inc. acquired a new position in Medtronic in the 4th quarter worth $852,732,000. Beutel Goodman & Co Ltd. purchased a new position in Medtronic in the 4th quarter valued at about $377,169,000. Van ECK Associates Corp grew its stake in shares of Medtronic by 2,043.4% during the fourth quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company's stock valued at $207,540,000 after acquiring an additional 2,476,935 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Medtronic by 17.8% during the fourth quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company's stock worth $1,233,769,000 after acquiring an additional 2,333,600 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on MDT. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and increased their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Robert W. Baird lifted their price target 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. Truist Financial reduced their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. UBS Group boosted 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. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $96.14.

Medtronic Stock Performance

NYSE MDT traded up $0.49 during trading hours on Thursday, hitting $84.24. The company had a trading volume of 5,958,691 shares, compared to its average volume of 6,677,690. 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 firm has a market cap of $108.04 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The business has a fifty day simple moving average of $88.18 and a 200-day simple moving average of $87.29.

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 the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Equities analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

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

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 40,979 shares of the company's stock, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by company insiders.

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.