Man Group plc Has $56.28 Million Position in Medtronic plc (NYSE:MDT)

Man Group plc increased its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 109.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 704,579 shares of the medical technology company's stock after buying an additional 367,920 shares during the quarter. Man Group plc owned about 0.05% of Medtronic worth $56,282,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Mainstream Capital Management LLC acquired a new stake in Medtronic during the fourth quarter worth approximately $26,000. Stephens Consulting LLC lifted its stake 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 purchasing an additional 204 shares during the last quarter. 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 during the last quarter. Optiver Holding B.V. bought a new stake in Medtronic during the fourth quarter worth $31,000. Finally, Chapman Financial Group LLC bought a new stake in Medtronic during the fourth quarter worth $33,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MDT shares. 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. Royal Bank of Canada restated an "outperform" rating and set a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and upped their target price for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Truist Financial cut their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $96.14.

Medtronic Trading Up 0.4%

NYSE:MDT traded up $0.30 during trading hours on Friday, hitting $86.41. 6,506,755 shares of the company were exchanged, compared to its average volume of 6,743,003. The stock has a market capitalization of $110.83 billion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The company has a fifty day simple moving average of $85.93 and a 200 day simple moving average of $86.61.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Sell-side analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.24%. The ex-dividend date was Friday, March 28th. Medtronic's dividend payout ratio is currently 85.11%.

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.