Asset Management One Co. Ltd. Has $50.78 Million Stake in Medtronic PLC (NYSE:MDT)

Asset Management One Co. Ltd. raised its stake in Medtronic PLC (NYSE:MDT - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 565,134 shares of the medical technology company's stock after buying an additional 27,232 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Medtronic were worth $50,783,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. MONECO Advisors LLC lifted its stake in Medtronic by 1.8% in the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock valued at $512,000 after acquiring an additional 115 shares during the last quarter. Dunhill Financial LLC raised its holdings in shares of Medtronic by 17.2% in the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock valued at $76,000 after purchasing an additional 124 shares during the period. Faithward Advisors LLC lifted its stake in Medtronic by 2.7% in the 4th quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock valued at $403,000 after purchasing an additional 134 shares during the last quarter. Vestor Capital LLC grew its holdings in Medtronic by 0.3% during the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock worth $4,104,000 after purchasing an additional 138 shares during the period. Finally, L. Roy Papp & Associates LLP increased its position in Medtronic by 2.8% during the first quarter. L. Roy Papp & Associates LLP now owns 5,099 shares of the medical technology company's stock worth $458,000 after buying an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

MDT stock traded down $0.03 during midday trading on Wednesday, reaching $86.05. The company had a trading volume of 8,037,458 shares, compared to its average volume of 6,934,317. Medtronic PLC has a 1-year low of $75.96 and a 1-year high of $96.25. The stock has a 50 day moving average price of $84.60 and a 200-day moving average price of $86.29. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The company has a market capitalization of $110.36 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 2.32 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.58 by $0.04. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. During the same period last year, the firm earned $1.46 EPS. The business's quarterly revenue was up 3.9% compared to the same quarter last year. Equities research analysts expect that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 27th. This is a boost from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 3.30%. Medtronic's dividend payout ratio is presently 78.45%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MDT shares. Mizuho dropped their price objective on Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Friday, June 6th. Robert W. Baird reduced their price objective on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. 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 research report on Friday, April 11th. Finally, Royal Bank Of Canada reduced their target price on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Medtronic presently has an average rating of "Moderate Buy" and an average target price of $97.87.

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.