300,476 Shares in Medtronic plc (NYSE:MDT) Acquired by Woodline Partners LP

Woodline Partners LP acquired a new position in Medtronic plc (NYSE:MDT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 300,476 shares of the medical technology company's stock, valued at approximately $24,002,000.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in Medtronic in the fourth quarter valued at approximately $1,163,580,000. Raymond James Financial Inc. purchased a new position in shares of Medtronic during the 4th quarter valued at approximately $852,732,000. Beutel Goodman & Co Ltd. acquired a new stake in Medtronic in the 4th quarter valued at $377,169,000. Van ECK Associates Corp grew its stake in Medtronic by 2,043.4% in the 4th quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company's stock valued at $207,540,000 after acquiring an additional 2,476,935 shares during the period. Finally, Invesco Ltd. increased its holdings in Medtronic by 17.8% in the 4th quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company's stock worth $1,233,769,000 after acquiring an additional 2,333,600 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Trading Down 0.3%

Shares of MDT stock traded down $0.21 on Monday, hitting $80.70. 10,565,983 shares of the stock traded hands, compared to its average volume of 6,811,780. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The firm's 50-day moving average price is $85.06 and its two-hundred day moving average price is $86.40. The stock has a market capitalization of $103.51 billion, a PE ratio of 24.53, a PEG ratio of 2.22 and a beta of 0.81.

Medtronic (NYSE:MDT - Get Free Report) last issued its 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 12.83% and a return on equity of 14.07%. The company had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. During the same period in the previous year, the firm earned $1.46 earnings per share. Medtronic's quarterly revenue was up 3.9% compared to the same quarter last year. As a group, analysts anticipate 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. Investors of record on Friday, June 27th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 27th. This is a boost from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a yield of 3.52%. Medtronic's dividend payout ratio is currently 78.45%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MDT shares. Robert W. Baird decreased their price objective on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a report on Thursday. Mizuho decreased their price target on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research note on Thursday. Truist Financial lowered their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Wall Street Zen cut Medtronic from a "buy" rating to a "hold" rating in a report on Saturday. Finally, UBS Group lifted their price target on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note 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 MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $96.07.

Medtronic 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.