Medtronic PLC $MDT Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 8.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,210,519 shares of the medical technology company's stock after purchasing an additional 259,064 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.25% of Medtronic worth $251,159,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MDT. Anfield Capital Management LLC raised its stake in Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company's stock worth $27,000 after acquiring an additional 230 shares during the period. Monetary Solutions Ltd acquired a new position in Medtronic during the 4th quarter valued at approximately $27,000. Acumen Wealth Advisors LLC bought a new position in Medtronic during the 4th quarter worth $29,000. IAG Wealth Partners LLC bought a new stake in Medtronic in the second quarter valued at $30,000. Finally, Imprint Wealth LLC acquired a new position in shares of Medtronic during the third quarter valued at $31,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MDT has been the subject of a number of analyst reports. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. Stifel Nicolaus set a $80.00 target price on Medtronic in a research note on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on Medtronic from $100.00 to $78.00 and set a "hold" rating on the stock in a report on Thursday, June 4th. The Goldman Sachs Group lowered their target price on shares of Medtronic from $84.00 to $83.00 and set a "neutral" rating on the stock in a research note on Thursday, June 4th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $88.00 price objective on shares of Medtronic in a report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $98.83.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the transaction, the executive vice president owned 37,227 shares in the company, valued at $2,994,539.88. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Medtronic Stock Down 1.8%

NYSE MDT opened at $92.45 on Friday. Medtronic PLC has a 12 month low of $73.31 and a 12 month high of $106.33. The company has a market capitalization of $118.33 billion, a P/E ratio of 24.79, a PEG ratio of 2.52 and a beta of 0.55. The company's 50 day simple moving average is $84.12 and its 200 day simple moving average is $86.01. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.01. The firm had revenue of $9.81 billion during the quarter, compared to analysts' expectations of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The firm's revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the firm posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities research analysts expect that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic's payout ratio is 77.21%.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic's offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic PLC (NYSE:MDT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source