Medtronic plc (NYSE:MDT) Stake Increased by Van ECK Associates Corp

Van ECK Associates Corp lifted its holdings in Medtronic plc (NYSE:MDT) by 2,043.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,598,150 shares of the medical technology company’s stock after buying an additional 2,476,935 shares during the period. Van ECK Associates Corp owned about 0.20% of Medtronic worth $207,540,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MDT. Allspring Global Investments Holdings LLC boosted its holdings in shares of Medtronic by 1.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,061,405 shares of the medical technology company’s stock worth $85,134,000 after purchasing an additional 18,900 shares during the period. Marks Group Wealth Management Inc lifted its position in Medtronic by 1.0% in the 4th quarter. Marks Group Wealth Management Inc now owns 34,612 shares of the medical technology company’s stock worth $2,765,000 after buying an additional 349 shares in the last quarter. Jmac Enterprises LLC boosted its stake in shares of Medtronic by 5.7% during the 4th quarter. Jmac Enterprises LLC now owns 11,107 shares of the medical technology company’s stock valued at $887,000 after buying an additional 600 shares during the period. Kentucky Trust Co purchased a new position in shares of Medtronic during the 4th quarter valued at $1,362,000. Finally, Capital Advisors Inc. OK increased its stake in shares of Medtronic by 5.1% in the fourth quarter. Capital Advisors Inc. OK now owns 332,273 shares of the medical technology company’s stock worth $26,542,000 after acquiring an additional 16,242 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Up 0.2 %

MDT stock opened at $91.35 on Thursday. The stock has a market capitalization of $117.14 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a 50-day moving average of $85.04 and a two-hundred day moving average of $86.65. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $93.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

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

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.07%. Medtronic’s dividend payout ratio is 85.63%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Robert W. Baird reduced their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Sanford C. Bernstein lifted their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. lowered their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Wells Fargo & Company cut their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Medtronic has an average rating of “Hold” and a consensus price target of $95.00.

Insider Transactions at Medtronic

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

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.