Medtronic plc (NYSE:MDT) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its holdings in Medtronic plc (NYSE:MDT) by 12.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 204,603 shares of the medical technology company’s stock after buying an additional 22,595 shares during the quarter. Quantinno Capital Management LP’s holdings in Medtronic were worth $16,344,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of MDT. Mufg Securities Americas Inc. bought a new stake in Medtronic in the 4th quarter valued at $1,512,000. Man Group plc grew its position in shares of Medtronic by 109.3% during the 4th quarter. Man Group plc now owns 704,579 shares of the medical technology company’s stock worth $56,282,000 after purchasing an additional 367,920 shares in the last quarter. NorthRock Partners LLC raised its position in shares of Medtronic by 217.7% in the fourth quarter. NorthRock Partners LLC now owns 11,965 shares of the medical technology company’s stock valued at $956,000 after buying an additional 8,199 shares in the last quarter. OMERS ADMINISTRATION Corp grew its position in Medtronic by 19.5% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 56,384 shares of the medical technology company’s stock worth $4,504,000 after buying an additional 9,200 shares in the last quarter. Finally, Meridiem Capital Partners LP acquired a new stake in shares of Medtronic in the 4th quarter valued at $12,580,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Trading Down 0.6%

NYSE MDT opened at $85.26 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $109.35 billion, a PE ratio of 25.91, a P/E/G ratio of 2.22 and a beta of 0.81. The stock’s 50 day moving average is $86.43 and its 200 day moving average is $86.72. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25.

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

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date was Friday, March 28th. Medtronic’s payout ratio is 85.11%.

Analyst Ratings Changes

A number of brokerages have weighed in on MDT. Truist Financial cut their target price on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. UBS Group lifted their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Finally, Robert W. Baird boosted their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $96.14.

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.