Universal Beteiligungs und Servicegesellschaft mbH Invests $139.87 Million in Medtronic plc (NYSE:MDT)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Medtronic plc (NYSE:MDT - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,750,989 shares of the medical technology company's stock, valued at approximately $139,869,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.14% of Medtronic as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Mainstream Capital Management LLC purchased a new position in Medtronic during the 4th quarter worth $26,000. Rakuten Securities Inc. boosted 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 valued at $27,000 after buying an additional 294 shares during the period. 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 worth $27,000 after buying an additional 204 shares in the last quarter. Optiver Holding B.V. purchased a new stake in shares of Medtronic in the 4th quarter valued at about $31,000. Finally, McIlrath & Eck LLC lifted its position in Medtronic by 72.3% during the fourth quarter. McIlrath & Eck LLC now owns 410 shares of the medical technology company's stock valued at $33,000 after purchasing an additional 172 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Trading Up 1.4%

Shares of Medtronic stock traded up $1.15 during midday trading on Thursday, reaching $82.39. 8,093,222 shares of the company's stock traded hands, compared to its average volume of 6,822,938. The stock has a 50 day moving average of $84.46 and a 200-day moving average of $86.28. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The company has a market cap of $105.66 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping 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 analyst estimates of $8.81 billion. During the same period last year, the business posted $1.46 earnings per share. Medtronic's quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts expect that Medtronic plc will post 5.46 EPS 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 issued a $0.71 dividend. This is an increase from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date is Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a yield of 3.45%. Medtronic's dividend payout ratio is 78.45%.

Analysts Set New Price Targets

MDT has been the topic of several research reports. Royal Bank of Canada lowered their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Robert W. Baird dropped their price target on Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Truist Financial cut their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Mizuho decreased their price objective on Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Finally, UBS Group upped their target price on Medtronic from $85.00 to $95.00 and gave the stock 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 issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $96.07.

Medtronic Company 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.