Mufg Securities Americas Inc. Acquires Shares of 18,931 Medtronic plc (NYSE:MDT)

Mufg Securities Americas Inc. bought a new position in shares of Medtronic plc (NYSE:MDT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 18,931 shares of the medical technology company’s stock, valued at approximately $1,512,000.

Several other large investors also recently modified their holdings of MDT. Norges Bank bought a new position in Medtronic in the 4th quarter valued at about $1,163,580,000. Raymond James Financial Inc. acquired a new stake in shares of Medtronic during the 4th quarter worth approximately $852,732,000. Beutel Goodman & Co Ltd. bought a new position in Medtronic in the fourth quarter valued at approximately $377,169,000. Van ECK Associates Corp raised its position in Medtronic by 2,043.4% during the fourth quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock valued at $207,540,000 after purchasing an additional 2,476,935 shares in the last quarter. Finally, Invesco Ltd. raised its position in Medtronic by 17.8% during the fourth quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company’s stock valued at $1,233,769,000 after purchasing an additional 2,333,600 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Trading Down 0.6%

MDT opened at $85.26 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The company’s 50 day moving average price is $86.43 and its two-hundred day moving average price is $86.72. The firm has a market capitalization of $109.35 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 2.22 and a beta of 0.81.

Medtronic (NYSE:MDT) last issued its quarterly earnings results 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 company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, research analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders 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 annualized dividend and a dividend yield of 3.28%. Medtronic’s payout ratio is 85.11%.

Analyst Ratings Changes

MDT has been the topic of several recent analyst reports. Truist Financial decreased their price target on Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and lifted their target price for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, UBS Group upped their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $96.14.

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.