TD Asset Management Inc. Buys 161,998 Shares of Medtronic plc (NYSE:MDT)

TD Asset Management Inc. lifted its stake in Medtronic plc (NYSE:MDT - Free Report) by 14.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,264,969 shares of the medical technology company's stock after acquiring an additional 161,998 shares during the period. TD Asset Management Inc. owned approximately 0.10% of Medtronic worth $101,046,000 at the end of the most recent reporting period.

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

Medtronic Trading Down 1.5 %

NYSE:MDT traded down $1.36 during trading hours on Friday, reaching $87.62. The company's stock had a trading volume of 6,320,123 shares, compared to its average volume of 6,561,213. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The firm has a market capitalization of $112.38 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 2.22 and a beta of 0.80. The firm has a 50-day simple moving average of $90.98 and a 200-day simple moving average of $88.01. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25.

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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 (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. Research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.20%. Medtronic's payout ratio is currently 85.11%.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Robert W. Baird raised their price target on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Finally, Truist Financial decreased their price objective on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, December 18th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Medtronic has an average rating of "Hold" and a consensus target price of $96.07.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business'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 transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company's stock.

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.