Sumitomo Mitsui DS Asset Management Company Ltd Acquires 9,451 Shares of Medtronic plc (NYSE:MDT)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 6.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 164,576 shares of the medical technology company’s stock after acquiring an additional 9,451 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Medtronic were worth $13,146,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC acquired a new stake in shares of Medtronic in the 3rd quarter valued at $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic during the third quarter worth approximately $27,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic in the third quarter valued at approximately $27,000. Stephens Consulting LLC boosted its holdings in shares of Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 204 shares in the last quarter. Finally, J. Stern & Co. LLP bought a new stake in Medtronic during the 3rd quarter worth approximately $30,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Down 0.9 %

MDT opened at $90.01 on Friday. The firm’s fifty day moving average is $84.78 and its two-hundred day moving average is $86.31. The firm has a market cap of $115.42 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter last year, the business posted $1.25 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. Equities research analysts anticipate that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. Medtronic’s dividend payout ratio is currently 85.63%.

Analysts Set New Price Targets

MDT has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Robert W. Baird decreased their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Sanford C. Bernstein upped their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Barclays lifted their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, Truist Financial cut their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and an average target price of $95.00.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is owned by corporate insiders.

Medtronic Profile

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.