Schroder Investment Management Group Acquires 202,832 Shares of Medtronic plc (NYSE:MDT)

Schroder Investment Management Group raised its stake in shares of Medtronic plc (NYSE:MDTFree Report) by 12.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,807,228 shares of the medical technology company’s stock after purchasing an additional 202,832 shares during the quarter. Schroder Investment Management Group owned 0.14% of Medtronic worth $148,879,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of MDT. Fortitude Family Office LLC bought a new stake in Medtronic in the fourth quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. grew its holdings 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 purchasing an additional 236,064 shares during the last quarter. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Medtronic during the 4th quarter worth about $27,000. Financial Gravity Asset Management Inc. lifted its holdings in Medtronic by 317.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 279 shares during the last quarter. Finally, Hartford Financial Management Inc. boosted its position in Medtronic by 52.1% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the medical technology company’s stock valued at $39,000 after buying an additional 164 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MDT has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Friday, May 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a research report on Wednesday. Truist Financial decreased their target price on Medtronic from $90.00 to $88.00 and set a “hold” rating on the stock in a report on Friday, May 24th. UBS Group raised their target price on Medtronic from $75.00 to $76.00 and gave the company a “sell” rating in a research note on Friday, May 24th. Finally, Wells Fargo & Company upped their price target on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Medtronic has an average rating of “Hold” and an average price target of $93.00.

View Our Latest Stock Report on MDT

Medtronic Trading Up 2.1 %

Shares of NYSE:MDT traded up $1.74 during trading on Friday, hitting $84.08. 7,034,457 shares of the company’s stock were exchanged, compared to its average volume of 6,312,389. The firm has a 50-day moving average price of $82.32 and a two-hundred day moving average price of $83.33. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $91.00. The firm has a market cap of $111.64 billion, a P/E ratio of 30.57, a PEG ratio of 2.40 and a beta of 0.83. The company has a current ratio of 2.03, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47.

Medtronic (NYSE:MDTGet Free Report) last released its earnings results on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.01. The firm had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.44 billion. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.57 EPS. Equities analysts predict that Medtronic plc will post 5.44 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.33%. This is an increase from Medtronic’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, June 28th. Medtronic’s dividend payout ratio (DPR) is currently 100.36%.

Insider Buying and Selling

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value 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 available at the SEC website. 0.30% of the stock is owned by insiders.

Medtronic Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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