Mitsubishi UFJ Trust & Banking Corp Purchases 12,727 Shares of Medtronic plc (NYSE:MDT)

Mitsubishi UFJ Trust & Banking Corp lifted its stake in Medtronic plc (NYSE:MDT - Free Report) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 647,334 shares of the medical technology company's stock after buying an additional 12,727 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of Medtronic worth $51,709,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new position in shares of Medtronic in the fourth quarter worth about $26,000. Stephens Consulting LLC lifted its holdings in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after purchasing an additional 204 shares in the last quarter. Rakuten Securities Inc. lifted its holdings in Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after purchasing an additional 294 shares in the last quarter. J. Stern & Co. LLP purchased a new stake in Medtronic during the 3rd quarter valued at approximately $30,000. Finally, Fiduciary Advisors Inc. bought a new stake in shares of Medtronic during the fourth quarter valued at approximately $36,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Performance

MDT traded down $0.24 during trading hours on Friday, hitting $88.04. The company's stock had a trading volume of 2,535,516 shares, compared to its average volume of 6,550,641. The firm has a market capitalization of $112.91 billion, a PE ratio of 26.75, a PEG ratio of 2.22 and a beta of 0.80. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The company has a 50-day simple moving average of $91.00 and a 200 day simple moving average of $88.05. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25.

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

Medtronic Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio (DPR) is 85.11%.

Analyst Ratings Changes

Several research firms recently weighed in on MDT. UBS Group raised their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Royal Bank of Canada restated an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Truist Financial decreased 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 investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Medtronic presently has an average rating of "Hold" and a consensus price target of $96.07.

Insider Activity at Medtronic

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

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.