Medtronic plc (NYSE:MDT) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC increased its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 21.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,606,685 shares of the medical technology company's stock after acquiring an additional 465,007 shares during the period. AQR Capital Management LLC owned approximately 0.20% of Medtronic worth $208,196,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MDT. Morse Asset Management Inc acquired a new position in shares of Medtronic during the third quarter worth approximately $225,000. Te Ahumairangi Investment Management Ltd raised its stake in shares of Medtronic by 4.1% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 52,321 shares of the medical technology company's stock valued at $4,684,000 after purchasing an additional 2,050 shares during the period. Chelsea Counsel Co. acquired a new stake in shares of Medtronic in the 3rd quarter valued at about $45,000. Tudor Financial Inc. acquired a new stake in shares of Medtronic in the 3rd quarter valued at about $586,000. Finally, Anchor Investment Management LLC increased its position in shares of Medtronic by 1.2% in the third quarter. Anchor Investment Management LLC now owns 107,518 shares of the medical technology company's stock valued at $9,680,000 after acquiring an additional 1,271 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Stock Down 1.6 %

Shares of MDT traded down $1.33 during midday trading on Thursday, reaching $83.43. 6,014,933 shares of the stock were exchanged, compared to its average volume of 6,676,563. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. 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 company's 50 day moving average is $87.77 and its two-hundred day moving average is $87.13. The company has a market capitalization of $107.01 billion, a P/E ratio of 25.36, a PEG ratio of 2.22 and a beta of 0.79.

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

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.36%. The ex-dividend date was Friday, March 28th. Medtronic's dividend payout ratio (DPR) is currently 85.11%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MDT shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Robert W. Baird boosted their price objective on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. UBS Group boosted their price target on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Royal Bank of Canada reiterated an "outperform" rating and issued a $105.00 price target 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 research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic currently has a consensus rating of "Hold" and a consensus target price of $96.14.

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.