Rakuten Securities Inc. Takes Position in Medtronic plc (NYSE:MDT)

Rakuten Securities Inc. bought a new position in Medtronic plc (NYSE:MDT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 600 shares of the medical technology company’s stock, valued at approximately $49,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Marino Stram & Associates LLC increased its holdings in Medtronic by 1.8% during the 4th quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company’s stock valued at $587,000 after purchasing an additional 126 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in shares of Medtronic by 19.6% in the second quarter. SRS Capital Advisors Inc. now owns 782 shares of the medical technology company’s stock valued at $69,000 after buying an additional 128 shares in the last quarter. Modera Wealth Management LLC raised its holdings in shares of Medtronic by 3.9% in the third quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock valued at $277,000 after buying an additional 133 shares during the last quarter. jvl associates llc lifted its position in Medtronic by 3.8% during the 4th quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock worth $316,000 after buying an additional 139 shares in the last quarter. Finally, Washington Trust Advisors Inc. grew its holdings in Medtronic by 7.1% during the 3rd quarter. Washington Trust Advisors Inc. now owns 2,102 shares of the medical technology company’s stock worth $165,000 after acquiring an additional 140 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Down 0.2 %

NYSE:MDT opened at $79.08 on Thursday. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. Medtronic plc has a 12-month low of $68.84 and a 12-month high of $92.02. The stock’s fifty day simple moving average is $84.18 and its 200-day simple moving average is $81.01. The firm has a market capitalization of $105.00 billion, a P/E ratio of 25.18, a P/E/G ratio of 2.71 and a beta of 0.76.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.04. The firm had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.30 earnings per share. Equities research analysts expect that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.49%. The ex-dividend date was Thursday, March 21st. Medtronic’s payout ratio is 87.90%.

Insider Activity at Medtronic

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. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total value of $2,613,065.35. Following the completion of the transaction, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Marinaro sold 854 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the sale, the executive vice president now owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

MDT has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a research note on Wednesday, February 21st. Mizuho boosted their price objective on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Truist Financial increased their price objective on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. Finally, Oppenheimer boosted their target price on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.91.

Medtronic Company 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.