Vinva Investment Management Ltd Grows Stock Position in Medtronic plc (NYSE:MDT)

Vinva Investment Management Ltd increased its holdings in Medtronic plc (NYSE:MDT - Free Report) by 16.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 76,939 shares of the medical technology company's stock after buying an additional 10,736 shares during the quarter. Vinva Investment Management Ltd's holdings in Medtronic were worth $6,125,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MDT. Raymond James Financial Inc. bought a new stake in Medtronic in the 4th quarter worth about $852,732,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Medtronic by 436.7% in the 3rd 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 buying an additional 5,975,110 shares in the last quarter. Van ECK Associates Corp increased its holdings in Medtronic by 2,043.4% in the 4th quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company's stock worth $207,540,000 after buying an additional 2,476,935 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Medtronic by 65.0% during the 3rd 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 during the period. Finally, Boston Partners grew its stake in shares of Medtronic by 117.4% during the 4th 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. 82.06% of the stock is currently owned by institutional investors.

Remove Ads

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Truist Financial cut their price target 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 restated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Royal Bank of Canada restated an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. Robert W. Baird boosted their price target on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Finally, Barclays boosted their price target on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Medtronic currently has a consensus rating of "Hold" and an average price target of $96.07.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares of the company's stock, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Medtronic Stock Performance

Shares of NYSE:MDT traded down $0.85 during trading on Friday, hitting $90.37. The stock had a trading volume of 14,027,607 shares, compared to its average volume of 6,103,055. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25. The stock has a market capitalization of $115.90 billion, a price-to-earnings ratio of 27.47, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The stock has a 50-day simple moving average of $90.67 and a two-hundred day simple moving average of $88.08.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. The firm 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%. On average, equities research analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic's payout ratio is currently 85.11%.

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.