MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stake in Medtronic plc (NYSE:MDT)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Medtronic plc (NYSE:MDT - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 227,657 shares of the medical technology company's stock after purchasing an additional 11,355 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Medtronic were worth $18,183,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Mainstream Capital Management LLC bought a new position in shares of Medtronic in the fourth quarter valued at approximately $26,000. Stephens Consulting LLC raised its position in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 204 shares during the last quarter. Rakuten Securities Inc. boosted its stake in 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 in the last quarter. Optiver Holding B.V. acquired a new position in Medtronic in the fourth quarter worth $31,000. Finally, Chapman Financial Group LLC bought a new stake in shares of Medtronic during the fourth quarter worth $33,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on MDT shares. UBS Group upped their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and raised their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Truist Financial reduced their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Medtronic has a consensus rating of "Hold" and an average target price of $96.14.

Medtronic Stock Up 0.4%

Shares of MDT traded up $0.30 during trading hours on Friday, reaching $86.41. 6,506,755 shares of the stock traded hands, compared to its average volume of 6,743,003. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The stock has a fifty day simple moving average of $85.93 and a 200 day simple moving average of $86.61. 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 $110.83 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 2.22 and a beta of 0.81.

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

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic's dividend payout ratio (DPR) is presently 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.