Medtronic plc (NYSE:MDT) Shares Bought by Prudential PLC

Prudential PLC grew its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 18.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,208 shares of the medical technology company's stock after purchasing an additional 6,066 shares during the period. Prudential PLC's holdings in Medtronic were worth $3,052,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Medtronic by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company's stock worth $9,921,367,000 after acquiring an additional 754,395 shares in the last quarter. Geode Capital Management LLC raised its holdings in Medtronic by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company's stock worth $2,155,085,000 after purchasing an additional 574,055 shares during the last quarter. Norges Bank purchased a new stake in Medtronic during the fourth quarter worth $1,163,580,000. Raymond James Financial Inc. acquired a new stake in Medtronic in the fourth quarter valued at $852,732,000. Finally, First Eagle Investment Management LLC increased its position in shares of Medtronic by 0.3% in the fourth quarter. First Eagle Investment Management LLC now owns 9,792,200 shares of the medical technology company's stock valued at $782,201,000 after buying an additional 28,910 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Up 4.3 %

NYSE:MDT traded up $3.54 on Wednesday, reaching $85.42. The stock had a trading volume of 11,980,488 shares, compared to its average volume of 6,662,947. 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 12-month low of $75.96 and a 12-month high of $96.25. The company has a 50-day moving average of $90.04 and a 200 day moving average of $87.74. The stock has a market cap of $109.55 billion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79.

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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 during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. On average, research analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.28%. Medtronic's 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 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on MDT shares. 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 report on Wednesday, February 19th. Royal Bank of Canada restated an "outperform" rating and set a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Finally, Robert W. Baird lifted their price objective on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $96.07.

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.