Voya Investment Management LLC Has $59.65 Million Stock Position in Medtronic plc (NYSE:MDT)

Voya Investment Management LLC grew its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 15.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 746,774 shares of the medical technology company's stock after purchasing an additional 97,778 shares during the period. Voya Investment Management LLC owned approximately 0.06% of Medtronic worth $59,652,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Adage Capital Partners GP L.L.C. boosted its stake in Medtronic by 7.2% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,655,787 shares of the medical technology company's stock valued at $132,264,000 after buying an additional 111,910 shares in the last quarter. Syon Capital LLC grew its position in Medtronic by 17.1% during the fourth quarter. Syon Capital LLC now owns 9,759 shares of the medical technology company's stock valued at $780,000 after purchasing an additional 1,422 shares in the last quarter. Coppell Advisory Solutions LLC grew its position in Medtronic by 13.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 2,095 shares of the medical technology company's stock valued at $167,000 after purchasing an additional 248 shares in the last quarter. MGO One Seven LLC grew its position in Medtronic by 2.1% in the fourth quarter. MGO One Seven LLC now owns 22,219 shares of the medical technology company's stock worth $1,775,000 after acquiring an additional 449 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Medtronic by 1.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,041,286 shares of the medical technology company's stock worth $562,460,000 after acquiring an additional 105,263 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Price Performance

Shares of Medtronic stock traded down $1.26 during mid-day trading on Thursday, reaching $83.50. 1,966,031 shares of the stock were exchanged, compared to its average volume of 6,655,560. The company has a market cap of $107.09 billion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The firm has a 50-day simple moving average of $87.91 and a 200 day simple moving average of $87.17. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25.

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 for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. On average, sell-side analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic's dividend payout ratio (DPR) is presently 85.11%.

Analysts Set New Price Targets

Several analysts recently issued reports on MDT shares. UBS Group upped their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Royal Bank of Canada reiterated an "outperform" rating and set a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and upped their target price for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, Robert W. Baird upped their target price on shares of Medtronic from $90.00 to $91.00 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 given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $96.14.

About Medtronic

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.