Achmea Investment Management B.V. Increases Holdings in Medtronic plc (NYSE:MDT)

Achmea Investment Management B.V. grew its holdings in Medtronic plc (NYSE:MDT) by 0.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 192,024 shares of the medical technology company’s stock after acquiring an additional 1,248 shares during the period. Achmea Investment Management B.V.’s holdings in Medtronic were worth $15,339,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Mainstream Capital Management LLC purchased a new position in shares of Medtronic in the fourth quarter valued at about $26,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic in the third quarter valued at about $27,000. Stephens Consulting LLC lifted its position 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 valued at $27,000 after acquiring an additional 204 shares in the last quarter. Rakuten Securities Inc. lifted 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 in the last quarter. Finally, J. Stern & Co. LLP purchased a new position in shares of Medtronic in the third quarter valued at about $30,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Down 1.8 %

MDT opened at $91.58 on Thursday. The stock has a market cap of $117.45 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 2.22 and a beta of 0.80. The stock’s 50 day moving average price is $89.12 and its 200-day moving average price is $87.91. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. 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 (NYSE:MDT) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, equities analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company 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 $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.06%. Medtronic’s dividend payout ratio (DPR) is currently 85.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Sanford C. Bernstein boosted their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Robert W. Baird boosted their target price on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Needham & Company LLC reiterated a “hold” rating 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. Finally, 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 report on Wednesday, December 18th. One research 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $96.07.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was 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 of the company’s stock, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.

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.