Mizuho Securities USA LLC Increases Holdings in Medtronic plc (NYSE:MDT)

Mizuho Securities USA LLC lifted its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 46.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,549 shares of the medical technology company's stock after purchasing an additional 38,379 shares during the period. Mizuho Securities USA LLC's holdings in Medtronic were worth $9,709,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MDT. Raymond James Financial Inc. acquired a new stake in shares of Medtronic during the 4th quarter worth approximately $852,732,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Medtronic by 436.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company's stock worth $661,125,000 after acquiring an additional 5,975,110 shares in the last quarter. Van ECK Associates Corp grew its holdings in Medtronic by 2,043.4% in the fourth quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company's stock worth $207,540,000 after purchasing an additional 2,476,935 shares during the period. Bank of Montreal Can increased its stake in Medtronic by 65.0% in the third quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company's stock valued at $406,122,000 after purchasing an additional 1,790,483 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of Medtronic by 117.4% during the fourth quarter. Boston Partners now owns 3,102,605 shares of the medical technology company's stock valued at $248,311,000 after purchasing an additional 1,675,588 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

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Medtronic Stock Performance

Medtronic stock traded down $1.63 during mid-day trading on Tuesday, reaching $88.50. 8,819,534 shares of the company's stock were exchanged, compared to its average volume of 6,102,713. The business's fifty day simple moving average is $90.84 and its 200 day simple moving average is $88.05. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The firm has a market capitalization of $113.51 billion, a PE ratio of 26.90, a P/E/G ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results 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 company had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, sell-side analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio is currently 85.11%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Truist Financial reduced their target price on Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, December 18th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Barclays upped their target price on Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and lifted their price target for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $96.07.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the 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 completion of the transaction, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently 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.