Mackenzie Financial Corp Has $60.05 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Mackenzie Financial Corp increased its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 8.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 751,758 shares of the medical technology company's stock after acquiring an additional 58,796 shares during the quarter. Mackenzie Financial Corp owned 0.06% of Medtronic worth $60,050,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Mainstream Capital Management LLC acquired a new stake in shares of Medtronic during the fourth quarter valued at approximately $26,000. Stephens Consulting LLC grew its position in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 204 shares in the last quarter. Rakuten Securities Inc. increased its stake in Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after buying an additional 294 shares during the period. Optiver Holding B.V. acquired a new position in Medtronic in the 4th quarter valued at approximately $31,000. Finally, Chapman Financial Group LLC acquired a new position in Medtronic in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Ratings Changes

MDT has been the topic of several research reports. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Monday, May 19th. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and upped their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Mizuho dropped their price objective on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Royal Bank of Canada dropped their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Finally, UBS Group upped their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, Medtronic currently has an average rating of "Hold" and an average price target of $96.07.

Medtronic Stock Performance

NYSE:MDT traded up $0.29 during trading hours on Friday, hitting $82.70. 2,875,388 shares of the company traded hands, compared to its average volume of 6,803,502. The stock has a market capitalization of $106.07 billion, a price-to-earnings ratio of 25.13, a P/E/G ratio of 2.22 and a beta of 0.81. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The firm has a 50-day moving average of $84.30 and a 200 day moving average of $86.24. 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 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. The firm had revenue of $8.93 billion during the quarter, compared to analysts' expectations of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business's quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.46 EPS. On average, analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a $0.71 dividend. 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 dividend yield of 3.43%. Medtronic's dividend payout ratio is currently 78.45%.

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.