Medtronic plc (NYSE:MDT) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. trimmed its stake in Medtronic plc (NYSE:MDT - Free Report) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,172,588 shares of the medical technology company's stock after selling 51,631 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.09% of Medtronic worth $93,666,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Copley Financial Group Inc. purchased a new stake in Medtronic during the third quarter valued at $694,000. Franklin Street Advisors Inc. NC increased its stake in shares of Medtronic by 32.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company's stock worth $5,873,000 after purchasing an additional 18,057 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in Medtronic by 322.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company's stock worth $6,626,000 after purchasing an additional 56,178 shares during the period. Olstein Capital Management L.P. lifted its position in Medtronic by 8.0% during the fourth quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company's stock valued at $7,509,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Czech National Bank grew its holdings in Medtronic by 6.4% during the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company's stock valued at $22,212,000 after purchasing an additional 16,786 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on MDT. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Truist Financial decreased their target price on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research note on Wednesday, December 18th. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and increased their price objective for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, UBS Group upped their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $96.07.

Medtronic Stock Performance

Shares of NYSE:MDT traded up $1.47 on Monday, hitting $89.10. 2,127,509 shares of the company were exchanged, compared to its average volume of 7,641,260. The firm has a market capitalization of $114.28 billion, a P/E ratio of 27.08, a price-to-earnings-growth 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. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The stock's 50 day moving average price is $90.98 and its 200 day moving average price is $87.99.

Medtronic (NYSE:MDT - Get Free Report) last announced 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. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Sell-side analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio (DPR) is presently 85.11%.

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.