DekaBank Deutsche Girozentrale Buys 96,564 Shares of Medtronic plc (NYSE:MDT)

DekaBank Deutsche Girozentrale raised its stake in Medtronic plc (NYSE:MDT - Free Report) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,492,052 shares of the medical technology company's stock after buying an additional 96,564 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.19% of Medtronic worth $205,923,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Morgan Stanley lifted its position in Medtronic by 9.2% in the third quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company's stock valued at $1,863,229,000 after buying an additional 1,994,123 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Medtronic by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 20,392,467 shares of the medical technology company's stock valued at $1,597,954,000 after buying an additional 508,205 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in Medtronic by 127,655.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 14,160,371 shares of the medical technology company's stock valued at $1,100,544,000 after buying an additional 14,149,287 shares during the last quarter. Norges Bank acquired a new position in Medtronic in the fourth quarter valued at about $1,062,316,000. Finally, Northern Trust Corp lifted its position in Medtronic by 2.1% in the third quarter. Northern Trust Corp now owns 13,622,933 shares of the medical technology company's stock valued at $1,067,493,000 after buying an additional 285,819 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on MDT. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $92.00 target price on shares of Medtronic in a research report on Wednesday, February 21st. Truist Financial increased their price target on shares of Medtronic from $87.00 to $90.00 and gave the stock a "hold" rating in a research report on Wednesday, February 21st. Oppenheimer increased their price target on shares of Medtronic from $89.00 to $92.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 21st. Finally, Mizuho increased their price target on shares of Medtronic from $95.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $94.91.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total value of $2,613,065.35. Following the transaction, the executive vice president now directly owns 48,289 shares in the company, valued at $4,110,842.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is currently owned by insiders.

Medtronic Stock Up 0.8 %

Shares of MDT stock traded up $0.64 during trading hours on Friday, reaching $84.56. 4,795,556 shares of the stock were exchanged, compared to its average volume of 6,114,499. The business's fifty day moving average is $85.17 and its two-hundred day moving average is $80.91. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $92.02. The firm has a market capitalization of $112.28 billion, a P/E ratio of 26.93, a P/E/G ratio of 2.89 and a beta of 0.76.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.04. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The firm had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.95 billion. During the same period in the prior year, the firm earned $1.30 earnings per share. The business's quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts expect that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 22nd will be paid a $0.69 dividend. The ex-dividend date is Thursday, March 21st. This represents a $2.76 annualized dividend and a yield of 3.26%. Medtronic's dividend payout ratio is currently 87.90%.

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.