Alyeska Investment Group L.P. Buys Shares of 1,430,855 Medtronic plc (NYSE:MDT)

Alyeska Investment Group L.P. bought a new position in shares of Medtronic plc (NYSE:MDT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,430,855 shares of the medical technology company's stock, valued at approximately $114,297,000. Alyeska Investment Group L.P. owned approximately 0.11% of Medtronic as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in MDT. Oddo BHF Asset Management Sas acquired a new stake in Medtronic during the 3rd quarter worth $415,000. Versant Capital Management Inc lifted its holdings in shares of Medtronic by 15.4% in the 4th quarter. Versant Capital Management Inc now owns 1,788 shares of the medical technology company's stock valued at $143,000 after purchasing an additional 238 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of Medtronic in the 4th quarter valued at about $55,000. Nordea Investment Management AB grew its stake in Medtronic by 1.0% during the 4th quarter. Nordea Investment Management AB now owns 2,819,486 shares of the medical technology company's stock worth $225,023,000 after buying an additional 27,695 shares during the last quarter. Finally, CWA Asset Management Group LLC increased its position in Medtronic by 24.0% during the fourth quarter. CWA Asset Management Group LLC now owns 5,752 shares of the medical technology company's stock worth $459,000 after buying an additional 1,113 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

MDT traded down $1.21 on Tuesday, hitting $82.24. 7,414,721 shares of the company were exchanged, compared to its average volume of 6,697,925. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week 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. The firm has a market capitalization of $105.48 billion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The business's fifty day moving average is $87.51 and its 200 day moving average is $86.99.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. The business 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%. As a group, sell-side analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.40%. Medtronic's payout ratio is 85.11%.

Analysts Set New Price Targets

Several analysts recently commented on MDT shares. UBS Group increased their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and raised their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Truist Financial decreased their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Robert W. Baird boosted their target price on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Finally, Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $96.14.

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.