XTX Topco Ltd Purchases Shares of 7,572 Medtronic PLC (NYSE:MDT)

Key Points

• XTX Topco Ltd acquired 7,572 shares of Medtronic PLC during the first quarter, valuing the investment at approximately $680,000.
• Medtronic recently reported earnings per share of $1.62, exceeding analyst expectations, with revenue of $8.93 billion for the quarter, reflecting a year-over-year increase of 3.9%.
• The company announced a dividend increase to $0.71 per share, with a current dividend yield of 3.2%.

XTX Topco Ltd purchased a new stake in shares of Medtronic PLC (NYSE:MDT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 7,572 shares of the medical technology company's stock, valued at approximately $680,000.

Several other institutional investors have also added to or reduced their stakes in MDT. Invesco Ltd. boosted its holdings in shares of 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 purchasing an additional 2,333,600 shares during the period. Burgundy Asset Management Ltd. purchased a new position in shares of Medtronic in the 4th quarter worth approximately $174,329,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Medtronic in the 4th quarter worth approximately $139,869,000. Mackenzie Financial Corp boosted its holdings in shares of Medtronic by 220.9% in the 1st quarter. Mackenzie Financial Corp now owns 2,412,115 shares of the medical technology company's stock worth $216,753,000 after purchasing an additional 1,660,357 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Medtronic by 21.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,910,161 shares of the medical technology company's stock worth $711,744,000 after purchasing an additional 1,566,776 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Stock Up 0.4%

Shares of MDT stock opened at $89.66 on Tuesday. Medtronic PLC has a 1-year low of $79.29 and a 1-year high of $96.25. The stock's fifty day moving average price is $87.94 and its 200 day moving average price is $87.86. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The company has a market cap of $114.99 billion, a price-to-earnings ratio of 24.77, a price-to-earnings-growth ratio of 2.32 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.04. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. The firm 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 business earned $1.46 EPS. The firm's revenue for the quarter was up 3.9% on a year-over-year basis. On average, research analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were paid a dividend of $0.71 per share. This is a positive change from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date was Friday, June 27th. This represents a $2.84 annualized dividend and a yield of 3.2%. Medtronic's dividend payout ratio (DPR) is presently 78.45%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MDT. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Friday, June 6th. Mizuho raised their price target on Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Wall Street Zen raised Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Leerink Partners assumed coverage on Medtronic in a research note on Monday, June 16th. They set an "outperform" rating and a $110.00 price target for the company. Finally, BTIG Research reissued a "neutral" rating on shares of Medtronic in a research note on Friday, July 11th. Eleven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $98.19.

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.

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