UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 21.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,910,161 shares of the medical technology company's stock after purchasing an additional 1,566,776 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.69% of Medtronic worth $711,744,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mainstream Capital Management LLC acquired a new position in shares of Medtronic in the 4th quarter worth approximately $26,000. Stephens Consulting LLC raised its position in Medtronic by 145.7% in 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 during the period. Rakuten Securities Inc. lifted its stake in 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 purchasing an additional 294 shares in the last quarter. Optiver Holding B.V. purchased a new position in shares of Medtronic during the fourth quarter worth $31,000. Finally, Chapman Financial Group LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at $33,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently commented on MDT shares. Mizuho lowered their target price on Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a report on Thursday. Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Monday, May 19th. Finally, UBS Group raised their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, nine have assigned 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, the company currently has a consensus rating of "Hold" and a consensus target price of $96.07.
Check Out Our Latest Report on Medtronic
Medtronic Stock Down 0.3%
MDT traded down $0.21 on Monday, reaching $80.70. The company's stock had a trading volume of 10,565,983 shares, compared to its average volume of 6,811,780. The company has a market capitalization of $103.51 billion, a price-to-earnings ratio of 24.53, a P/E/G ratio of 2.22 and a beta of 0.81. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average of $85.06 and a two-hundred day moving average of $86.40.
Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $8.81 billion. During the same quarter in the prior year, the business posted $1.46 EPS. The company's revenue for the quarter was up 3.9% on a year-over-year basis. As a group, analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.
Medtronic Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a $0.71 dividend. This is an increase from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Friday, June 27th. Medtronic's payout ratio is presently 78.45%.
About Medtronic
(
Free Report)
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.
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