Deutsche Bank AG Purchases 372,168 Shares of Medtronic plc (NYSE:MDT)

Deutsche Bank AG raised its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 2.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,443,640 shares of the medical technology company's stock after buying an additional 372,168 shares during the quarter. Medtronic comprises 0.6% of Deutsche Bank AG's portfolio, making the stock its 21st largest holding. Deutsche Bank AG owned approximately 1.44% of Medtronic worth $1,473,278,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new stake in Medtronic in the 4th quarter worth approximately $26,000. Rakuten Securities Inc. increased its holdings in shares of Medtronic by 753.8% in 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 period. Stephens Consulting LLC boosted 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 valued at $27,000 after buying an additional 204 shares during the period. Optiver Holding B.V. bought a new stake in Medtronic during the fourth quarter valued at $31,000. Finally, Chapman Financial Group LLC purchased a new position in Medtronic during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Truist Financial lowered their price target on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Royal Bank of Canada reissued an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. Robert W. Baird lifted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, UBS Group increased their target price on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $96.14.

Medtronic Trading Down 0.2 %

Shares of NYSE MDT traded down $0.15 during mid-day trading on Friday, hitting $83.47. The stock had a trading volume of 6,587,919 shares, compared to its average volume of 6,730,804. The business has a 50 day moving average price of $86.76 and a two-hundred day moving average price of $86.79. Medtronic plc has a 1 year low of $75.96 and a 1 year 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 firm has a market cap of $107.05 billion, a P/E ratio of 25.37, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. On average, equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.35%. Medtronic's dividend payout ratio is presently 85.11%.

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.