Medtronic plc (NYSE:MDT) Stock Position Lifted by Bellevue Group AG

Bellevue Group AG boosted its position in Medtronic plc (NYSE:MDT - Free Report) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,042,948 shares of the medical technology company's stock after acquiring an additional 34,315 shares during the quarter. Medtronic accounts for 1.6% of Bellevue Group AG's investment portfolio, making the stock its 16th biggest position. Bellevue Group AG owned 0.08% of Medtronic worth $83,311,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Medtronic by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company's stock worth $9,921,367,000 after purchasing an additional 754,395 shares during the period. Capital Research Global Investors grew its position in Medtronic by 1.8% in the fourth quarter. Capital Research Global Investors now owns 33,203,685 shares of the medical technology company's stock valued at $2,652,310,000 after acquiring an additional 571,700 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Medtronic by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company's stock valued at $2,155,085,000 after purchasing an additional 574,055 shares during the period. Invesco Ltd. lifted its position in shares of Medtronic by 17.8% during the fourth quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company's stock worth $1,233,769,000 after purchasing an additional 2,333,600 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Medtronic in the fourth quarter valued at $1,163,580,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on MDT shares. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Robert W. Baird boosted their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Truist Financial decreased their price target on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. UBS Group upped their price objective on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $96.14.

Medtronic Stock Performance

MDT traded up $0.31 during trading hours on Friday, hitting $83.93. The company's stock had a trading volume of 4,287,948 shares, compared to its average volume of 7,525,627. The firm has a market capitalization of $107.64 billion, a PE ratio of 25.51, a PEG ratio of 2.22 and a beta of 0.81. The company has a 50-day simple moving average of $86.95 and a 200 day simple moving average of $86.88. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. As a group, sell-side analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.34%. Medtronic's dividend payout ratio is currently 85.11%.

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.