Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Medtronic plc. (NYSE:MDT) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 210,917 shares of the medical technology company’s stock after acquiring an additional 2,688 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Medtronic were worth $17,700,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Janus Henderson Group PLC acquired a new position in shares of Medtronic during the third quarter worth about $579,952,000. Lazard Asset Management LLC boosted its position in shares of Medtronic by 43.8% during the second quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock worth $1,745,699,000 after buying an additional 5,991,094 shares during the period. Alliancebernstein L.P. boosted its position in shares of Medtronic by 135.5% during the second quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock worth $538,727,000 after buying an additional 3,493,058 shares during the period. BlackRock Inc. boosted its position in shares of Medtronic by 2.8% during the second quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock worth $7,944,210,000 after buying an additional 2,476,853 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Medtronic by 2.4% during the second quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock worth $9,298,872,000 after buying an additional 2,454,380 shares during the period. 81.97% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on MDT shares. Bank of America raised Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. SunTrust Banks set a $92.00 price objective on Medtronic and gave the stock a “buy” rating in a research report on Sunday, November 19th. Jefferies Group reaffirmed a “buy” rating and set a $99.00 price objective on shares of Medtronic in a research report on Thursday, November 23rd. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a research report on Thursday, December 21st. Finally, Zacks Investment Research upgraded Medtronic from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Medtronic presently has an average rating of “Buy” and a consensus price target of $90.10.
Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.08. The firm had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.12 earnings per share. equities research analysts forecast that Medtronic plc. will post 4.76 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, December 29th were paid a $0.46 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.84 annualized dividend and a yield of 2.32%. Medtronic’s dividend payout ratio is 50.55%.
In other Medtronic news, VP Richard Kuntz sold 78,526 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. Following the sale, the vice president now owns 149,761 shares in the company, valued at $12,910,895.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total value of $1,264,320.00. The disclosure for this sale can be found here. Insiders sold 136,684 shares of company stock worth $11,582,596 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.
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Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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