Achmea Investment Management B.V. Buys 142,788 Shares of Medtronic PLC (NYSE:MDT)

Achmea Investment Management B.V. lifted its position in Medtronic PLC (NYSE:MDT - Free Report) by 74.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 334,812 shares of the medical technology company's stock after acquiring an additional 142,788 shares during the period. Achmea Investment Management B.V.'s holdings in Medtronic were worth $30,086,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MDT. Mainstream Capital Management LLC bought a new stake in shares of Medtronic in the 4th quarter valued at $26,000. Burkett Financial Services LLC grew its stake in Medtronic by 185.0% in the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after acquiring an additional 185 shares during the period. Rakuten Securities Inc. increased its holdings in shares of Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after acquiring an additional 294 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new stake in shares of Medtronic during the fourth quarter worth about $27,000. Finally, Optiver Holding B.V. bought a new position in shares of Medtronic during the 4th quarter valued at about $31,000. Institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

MDT has been the subject of a number of research reports. Leerink Partnrs raised Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Friday, June 6th. Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Robert W. Baird cut their price objective on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Finally, Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and increased their target price for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.87.

Medtronic Stock Up 0.5%

Shares of MDT stock opened at $86.41 on Friday. The firm's 50-day moving average is $84.74 and its 200-day moving average is $86.31. The stock has a market cap of $110.83 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 2.32 and a beta of 0.79. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. Medtronic PLC has a 52-week low of $75.96 and a 52-week high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.58 by $0.04. The company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 EPS. Sell-side analysts predict that Medtronic PLC will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Friday, June 27th. This is a boost from Medtronic's previous quarterly dividend of $0.70. Medtronic's dividend payout ratio (DPR) is currently 77.35%.

Medtronic Company 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.

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