Mirae Asset Global Investments Co. Ltd. Purchases 16,136 Shares of Medtronic PLC (NYSE:MDT)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Medtronic PLC (NYSE:MDT - Free Report) by 11.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 156,185 shares of the medical technology company's stock after acquiring an additional 16,136 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Medtronic were worth $13,686,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Mainstream Capital Management LLC bought a new stake in shares of Medtronic during the 4th quarter worth about $26,000. Burkett Financial Services LLC lifted its position in Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after acquiring an additional 185 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in shares of Medtronic by 753.8% during 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 during the period. Wood Tarver Financial Group LLC acquired a new position in shares of Medtronic in the fourth quarter valued at approximately $27,000. Finally, Optiver Holding B.V. bought a new position in shares of Medtronic during the fourth quarter worth approximately $31,000. Institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on MDT. Wall Street Zen upgraded Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Leerink Partners initiated coverage on Medtronic in a report on Monday, June 16th. They set an "outperform" rating and a $110.00 target price for the company. Wolfe Research upgraded shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday. Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Finally, Robert W. Baird decreased their target price 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. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Medtronic presently has an average rating of "Moderate Buy" and an average price target of $97.87.

Medtronic Trading Up 0.2%

Shares of Medtronic stock traded up $0.22 on Thursday, reaching $88.50. 2,989,470 shares of the company's stock were exchanged, compared to its average volume of 7,835,937. The firm's 50-day moving average is $85.12 and its two-hundred day moving average is $86.44. The company has a market capitalization of $113.50 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. 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 posted its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The business had revenue of $8.93 billion during the quarter, compared to analysts' expectations of $8.81 billion. During the same period last year, the company posted $1.46 earnings per share. The business's quarterly revenue was up 3.9% on a year-over-year basis. Sell-side analysts predict that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.21%. This is a positive change from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. Medtronic's dividend payout ratio (DPR) is 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.