35,525 Shares in Medtronic plc (NYSE:MDT) Purchased by GF Fund Management CO. LTD.

GF Fund Management CO. LTD. bought a new stake in Medtronic plc (NYSE:MDT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 35,525 shares of the medical technology company's stock, valued at approximately $2,838,000.

Other institutional investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. increased its position in Medtronic by 36.3% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 73,883 shares of the medical technology company's stock worth $5,902,000 after buying an additional 19,679 shares in the last quarter. Parr Mcknight Wealth Management Group LLC purchased a new stake in Medtronic in the fourth quarter worth about $1,564,000. WCG Wealth Advisors LLC increased its position in Medtronic by 24.6% in the fourth quarter. WCG Wealth Advisors LLC now owns 28,384 shares of the medical technology company's stock worth $2,267,000 after buying an additional 5,606 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Medtronic by 1.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 609,701 shares of the medical technology company's stock worth $48,703,000 after buying an additional 8,317 shares in the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in Medtronic in the fourth quarter worth about $56,000. Institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

MDT traded up $0.08 during trading hours on Wednesday, hitting $81.26. The company's stock had a trading volume of 7,514,297 shares, compared to its average volume of 6,817,858. The business's 50-day moving average price is $84.64 and its 200-day moving average price is $86.31. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The stock has a market cap of $104.22 billion, a price-to-earnings ratio of 24.70, a P/E/G ratio of 2.22 and a beta of 0.81. 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 posted its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.04. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.93 billion for the quarter, compared to analysts' expectations of $8.81 billion. During the same quarter in the previous year, the business posted $1.46 earnings per share. The business's revenue was up 3.9% compared to the same quarter last year. Sell-side analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a dividend of $0.71 per share. This is a boost from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.49%. Medtronic's payout ratio is 78.45%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MDT. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and upped their price target for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Royal Bank of Canada reduced their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Wall Street Zen cut Medtronic from a "buy" rating to a "hold" rating in a research report on Saturday. Truist Financial cut their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $96.07.

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.