Nebula Research & Development LLC Increases Stake in Medtronic plc (NYSE:MDT)

Nebula Research & Development LLC grew its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 456.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,370 shares of the medical technology company's stock after purchasing an additional 33,934 shares during the quarter. Medtronic makes up 0.4% of Nebula Research & Development LLC's investment portfolio, making the stock its 29th largest holding. Nebula Research & Development LLC's holdings in Medtronic were worth $3,305,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Medtronic by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company's stock valued at $9,921,367,000 after purchasing an additional 754,395 shares during the last quarter. Capital Research Global Investors increased its position in shares of 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 purchasing an additional 571,700 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Medtronic by 2.2% during the 4th 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. Invesco Ltd. increased 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 valued at $1,233,769,000 after purchasing an additional 2,333,600 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Medtronic during the 4th quarter worth $1,163,580,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Price Performance

Shares of MDT traded down $0.36 during trading hours on Wednesday, reaching $84.24. 1,641,169 shares of the company's stock traded hands, compared to its average volume of 7,555,017. The stock has a market cap of $108.04 billion, a PE ratio of 25.60, 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's 50 day simple moving average is $88.01 and its 200-day simple moving average is $87.19. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last announced 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. The company had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Equities analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $0.70 dividend. The ex-dividend date was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.32%. Medtronic's dividend payout ratio (DPR) is currently 85.11%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MDT. Royal Bank of Canada reiterated an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. Robert W. Baird increased their price target on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and increased their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Truist Financial cut their price target on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Finally, UBS Group increased their price target on Medtronic from $85.00 to $95.00 and gave the stock 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 assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of "Hold" and a consensus target price of $96.14.

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.