Medtronic plc (NYSE:MDT) Shares Sold by Nan Shan Life Insurance Co. Ltd.

Nan Shan Life Insurance Co. Ltd. cut its stake in Medtronic plc (NYSE:MDT - Free Report) by 13.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 354,998 shares of the medical technology company's stock after selling 55,709 shares during the period. Nan Shan Life Insurance Co. Ltd.'s holdings in Medtronic were worth $28,357,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MDT. Vanguard Group Inc. increased its position in shares of Medtronic by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company's stock valued at $9,921,367,000 after buying an additional 754,395 shares in the last quarter. Capital Research Global Investors increased its holdings in Medtronic by 1.8% during the 4th quarter. Capital Research Global Investors now owns 33,203,685 shares of the medical technology company's stock valued at $2,652,310,000 after acquiring an additional 571,700 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Medtronic by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company's stock valued at $2,155,085,000 after purchasing an additional 574,055 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Medtronic by 2.1% during the 4th quarter. Deutsche Bank AG now owns 18,443,640 shares of the medical technology company's stock worth $1,473,278,000 after purchasing an additional 372,168 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Medtronic by 17.8% during 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 last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Up 0.2%

NYSE:MDT traded up $0.20 during trading hours on Monday, hitting $86.64. The stock had a trading volume of 2,449,214 shares, compared to its average volume of 6,727,227. The business has a 50 day simple moving average of $85.93 and a two-hundred day simple moving average of $86.60. Medtronic plc has a 1-year low of $75.96 and a 1-year 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 has a market cap of $111.12 billion, a PE ratio of 26.33, 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 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 firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Friday, March 28th. Medtronic's dividend payout ratio (DPR) is currently 85.11%.

Analyst Ratings Changes

MDT has been the topic of a number of recent research reports. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Monday. Royal Bank of Canada restated an "outperform" rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and boosted their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. UBS Group raised their price objective on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, Truist Financial cut their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price 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.