Medtronic plc (NYSE:MDT) Shares Purchased by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. boosted its holdings in shares of Medtronic plc (NYSE:MDT) by 6.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,219 shares of the medical technology company’s stock after acquiring an additional 339 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Medtronic were worth $411,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. Norges Bank purchased a new stake in Medtronic in the 4th quarter valued at about $1,229,726,000. First Eagle Investment Management LLC raised its stake in shares of Medtronic by 54.5% in the 4th quarter. First Eagle Investment Management LLC now owns 9,409,680 shares of the medical technology company’s stock valued at $775,169,000 after acquiring an additional 3,320,800 shares during the period. M&G Plc acquired a new position in shares of Medtronic in the 1st quarter worth approximately $259,160,000. Capital Research Global Investors boosted its position in shares of Medtronic by 7.1% during the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock worth $2,691,577,000 after purchasing an additional 2,044,109 shares during the period. Finally, Pzena Investment Management LLC increased its holdings in Medtronic by 30.9% in the 4th quarter. Pzena Investment Management LLC now owns 7,500,562 shares of the medical technology company’s stock valued at $617,896,000 after purchasing an additional 1,769,985 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of research reports. Oppenheimer upped their price target on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. The Goldman Sachs Group began coverage on Medtronic in a research note on Thursday, May 30th. They set a “sell” rating and a $83.00 target price on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Tuesday, August 20th. UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and increased their price target for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $92.92.

Medtronic Trading Up 0.8 %

Shares of NYSE:MDT opened at $90.60 on Tuesday. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $91.49. The company’s 50 day moving average is $82.56 and its two-hundred day moving average is $82.62. The company has a market cap of $116.19 billion, a PE ratio of 32.95, a P/E/G ratio of 2.56 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. Medtronic’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $1.20 earnings per share. Equities analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.09%. The ex-dividend date is Friday, September 27th. Medtronic’s payout ratio is 101.82%.

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.