Vanguard Group Inc. Has $9.92 Billion Holdings in Medtronic plc (NYSE:MDT)

Vanguard Group Inc. increased its position in shares of Medtronic plc (NYSE:MDT) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 124,203,387 shares of the medical technology company’s stock after purchasing an additional 754,395 shares during the quarter. Vanguard Group Inc. owned 9.69% of Medtronic worth $9,921,367,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Segall Bryant & Hamill LLC acquired a new stake in Medtronic during the 3rd quarter valued at approximately $2,641,000. Citizens Financial Group Inc. RI grew its position in shares of Medtronic by 31.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 15,873 shares of the medical technology company’s stock worth $1,439,000 after buying an additional 3,805 shares during the period. LPL Financial LLC grew its position in Medtronic by 6.9% in the 3rd quarter. LPL Financial LLC now owns 1,092,135 shares of the medical technology company’s stock valued at $98,325,000 after purchasing an additional 70,413 shares during the period. Pacer Advisors Inc. grew its position in Medtronic by 14.6% in the 3rd quarter. Pacer Advisors Inc. now owns 142,368 shares of the medical technology company’s stock valued at $12,817,000 after purchasing an additional 18,171 shares during the period. Finally, Allen Capital Group LLC acquired a new stake in Medtronic in the 3rd quarter valued at $259,000. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Truist Financial lowered their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $96.07.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

Medtronic Trading Down 0.9 %

Shares of NYSE MDT opened at $90.37 on Friday. The business has a fifty day moving average price of $90.67 and a 200 day moving average price of $88.07. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The stock has a market capitalization of $115.90 billion, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. 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 (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share 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 business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Equities research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

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.