CANADA LIFE ASSURANCE Co Has $212.52 Million Stock Holdings in Medtronic plc (NYSE:MDT)

CANADA LIFE ASSURANCE Co lowered its stake in Medtronic plc (NYSE:MDT) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,662,205 shares of the medical technology company’s stock after selling 12,193 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.21% of Medtronic worth $212,522,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Morse Asset Management Inc bought a new stake in shares of Medtronic in the 3rd quarter valued at about $225,000. Te Ahumairangi Investment Management Ltd grew its holdings in Medtronic by 4.1% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 52,321 shares of the medical technology company’s stock valued at $4,684,000 after purchasing an additional 2,050 shares during the period. Chelsea Counsel Co. bought a new stake in Medtronic in the third quarter valued at approximately $45,000. Tudor Financial Inc. acquired a new stake in Medtronic in the third quarter worth $586,000. Finally, Anchor Investment Management LLC boosted its position in shares of Medtronic by 1.2% during the third quarter. Anchor Investment Management LLC now owns 107,518 shares of the medical technology company’s stock worth $9,680,000 after purchasing an additional 1,271 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Robert W. Baird raised their price objective on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. UBS Group lifted their price objective on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Truist Financial lowered their target price on Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Finally, Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and lifted their price target for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Medtronic currently has an average rating of “Hold” and an average price target of $96.14.

Insider Activity

In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Medtronic Stock Up 0.5 %

MDT stock opened at $82.75 on Thursday. The company has a market cap of $106.13 billion, a price-to-earnings ratio of 25.15, a P/E/G ratio of 2.22 and a beta of 0.79. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The business has a 50 day moving average price of $89.25 and a two-hundred day moving average price of $87.53. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The business 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%. Analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

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.