Medtronic plc (NYSE:MDT) Shares Purchased by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 12.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,397 shares of the medical technology company's stock after acquiring an additional 10,018 shares during the period. Tokio Marine Asset Management Co. Ltd.'s holdings in Medtronic were worth $7,694,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MDT. Hartford Financial Management Inc. increased its stake in shares of Medtronic by 425.0% during the third quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company's stock valued at $25,000 after acquiring an additional 255 shares during the period. Fortitude Family Office LLC acquired a new position in shares of Medtronic during the 4th quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. raised its stake in shares of Medtronic by 293.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company's stock worth $26,000 after buying an additional 236,064 shares in the last quarter. Financial Gravity Asset Management Inc. lifted its holdings in shares of Medtronic by 317.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company's stock valued at $29,000 after buying an additional 279 shares during the period. Finally, Princeton Global Asset Management LLC bought a new position in Medtronic during the third quarter valued at about $31,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Down 1.1 %

Shares of MDT stock traded down $0.91 on Wednesday, hitting $80.38. The company's stock had a trading volume of 5,028,122 shares, compared to its average volume of 6,274,381. The stock has a market capitalization of $106.73 billion, a price-to-earnings ratio of 25.60, a P/E/G ratio of 2.76 and a beta of 0.76. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02. The firm's fifty day moving average price is $83.73 and its 200-day moving average price is $81.14. 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 (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $1.26 by $0.04. The business had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The firm's revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $1.30 EPS. Research analysts anticipate that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were given a dividend of $0.69 per share. The ex-dividend date was Thursday, March 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.43%. Medtronic's dividend payout ratio is presently 87.90%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Oppenheimer increased their target price on shares of Medtronic from $89.00 to $92.00 and gave the company a "market perform" rating in a research note on Wednesday, February 21st. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $92.00 target price on shares of Medtronic in a research report on Wednesday, February 21st. Truist Financial upped their target price on Medtronic from $87.00 to $90.00 and gave the company a "hold" rating in a report on Wednesday, February 21st. Finally, Mizuho lifted their price target on Medtronic from $95.00 to $98.00 and gave the stock a "buy" rating in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $94.91.

Insider Activity at Medtronic

In other news, EVP Sean Salmon sold 30,695 shares of the firm's stock in a transaction 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 sale, the executive vice president now owns 48,289 shares in the company, valued at $4,110,842.57. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Michael Marinaro sold 854 shares of the business's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the firm's stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total value of $2,613,065.35. Following the completion of the transaction, the executive vice president now directly owns 48,289 shares of the company's stock, valued at $4,110,842.57. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic plc (NYSE:MDT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.