MUFG Securities EMEA plc Boosts Holdings in Medtronic PLC $MDT

MUFG Securities EMEA plc lifted its stake in Medtronic PLC (NYSE:MDT) by 114.3% in the 4th quarter, HoldingsChannel reports. The firm owned 52,544 shares of the medical technology company’s stock after buying an additional 28,020 shares during the quarter. MUFG Securities EMEA plc’s holdings in Medtronic were worth $5,047,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MDT. Artisan Partners Limited Partnership lifted its position in Medtronic by 2.6% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock valued at $117,579,000 after acquiring an additional 31,314 shares during the period. CSM Advisors LLC lifted its position in Medtronic by 13.2% during the 3rd quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock valued at $27,169,000 after acquiring an additional 33,167 shares during the period. SageView Advisory Group LLC lifted its position in Medtronic by 164.8% during the 3rd quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock valued at $2,305,000 after acquiring an additional 15,062 shares during the period. UMB Bank n.a. lifted its position in Medtronic by 65.8% during the 3rd quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock valued at $13,170,000 after acquiring an additional 54,898 shares during the period. Finally, Bleakley Financial Group LLC lifted its position in Medtronic by 17.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 87,313 shares of the medical technology company’s stock valued at $8,316,000 after acquiring an additional 13,177 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MDT shares. Piper Sandler lowered their price target on shares of Medtronic from $105.00 to $91.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Weiss Ratings cut shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Mizuho lowered their price target on shares of Medtronic from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. UBS Group lowered their price target on shares of Medtronic from $104.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, April 22nd. Finally, Stifel Nicolaus lowered their price target on shares of Medtronic from $105.00 to $95.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and an average target price of $106.45.

Medtronic Stock Down 0.1%

NYSE:MDT opened at $73.73 on Monday. The firm has a market cap of $94.66 billion, a P/E ratio of 20.54, a P/E/G ratio of 1.76 and a beta of 0.58. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. Medtronic PLC has a fifty-two week low of $73.67 and a fifty-two week high of $106.33. The firm has a 50-day simple moving average of $82.36 and a two-hundred day simple moving average of $92.64.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were paid a $0.71 dividend. The ex-dividend date was Friday, March 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.9%. Medtronic’s payout ratio is currently 79.11%.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).