Medtronic plc (NYSE:MDT) Shares Bought by Voya Financial Advisors Inc.

Voya Financial Advisors Inc. grew its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 14.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,319 shares of the medical technology company's stock after buying an additional 3,600 shares during the quarter. Voya Financial Advisors Inc.'s holdings in Medtronic were worth $2,334,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MDT. MONECO Advisors LLC increased its stake in shares of Medtronic by 1.8% during the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock valued at $512,000 after buying an additional 115 shares during the period. OLD Second National Bank of Aurora increased its stake in shares of Medtronic by 0.3% during the fourth quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock valued at $2,900,000 after buying an additional 121 shares during the period. McKinley Carter Wealth Services Inc. increased its stake in shares of Medtronic by 0.7% during the fourth quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company's stock valued at $1,572,000 after buying an additional 129 shares during the period. Faithward Advisors LLC increased its stake in shares of Medtronic by 2.7% during the fourth quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock valued at $403,000 after buying an additional 134 shares during the period. Finally, Vestor Capital LLC increased its stake in shares of Medtronic by 0.3% during the fourth quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock valued at $4,104,000 after buying an additional 138 shares during the period. Institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

MDT has been the topic of several research reports. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and raised their price target for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Robert W. Baird lifted their target price on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Royal Bank of Canada reiterated an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. Truist Financial cut their target price on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Finally, UBS Group lifted their target price on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Medtronic has an average rating of "Hold" and an average price target of $96.14.

Medtronic Price Performance

Shares of NYSE:MDT traded down $0.36 during midday trading on Wednesday, reaching $84.24. 1,641,169 shares of the company's stock traded hands, compared to its average volume of 6,650,222. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The company has a fifty day simple moving average of $88.01 and a two-hundred day simple moving average of $87.19. The company has a market cap of $108.04 billion, a P/E ratio of 25.60, a PEG ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly 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. 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%. Equities analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

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

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.