Norinchukin Bank The Purchases 4,899 Shares of Medtronic plc (NYSE:MDT)

Norinchukin Bank The increased its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 9.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 57,779 shares of the medical technology company's stock after purchasing an additional 4,899 shares during the quarter. Norinchukin Bank The's holdings in Medtronic were worth $4,615,000 as of its most recent SEC filing.

Other institutional investors have also 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 valued at approximately $26,000. Stephens Consulting LLC grew its stake in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 204 shares during the period. Rakuten Securities Inc. increased its position in shares of Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 294 shares during the last quarter. Fiduciary Advisors Inc. bought a new stake in shares of Medtronic during the 4th quarter worth $36,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Medtronic in the 4th quarter worth about $40,000. 82.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on MDT. Truist Financial lowered their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and boosted their target price for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. UBS Group increased their price target on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Finally, Robert W. Baird boosted their price objective on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $96.14.

Medtronic Price Performance

NYSE MDT traded up $0.38 on Wednesday, hitting $83.75. The stock had a trading volume of 6,467,058 shares, compared to its average volume of 6,673,968. The firm has a 50-day moving average of $88.54 and a 200-day moving average of $87.34. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The company has a market capitalization of $107.41 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79.

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 (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 the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Equities analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a $0.70 dividend. The ex-dividend date was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.34%. Medtronic's dividend payout ratio is presently 85.11%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business's stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 40,979 shares of the company's stock, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company's stock.

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.