Raiffeisen Bank International AG Takes $756,000 Position in Medtronic plc (NYSE:MDT)

Raiffeisen Bank International AG acquired a new stake in shares of Medtronic plc (NYSE:MDT) in the fourth quarter, Holdings Channel.com reports. The firm acquired 9,499 shares of the medical technology company’s stock, valued at approximately $756,000.

A number of other large investors have also made changes to their positions in MDT. Norges Bank acquired a new position in shares of Medtronic during the fourth quarter valued at about $1,163,580,000. Raymond James Financial Inc. acquired a new position in shares of Medtronic during the fourth quarter valued at about $852,732,000. Beutel Goodman & Co Ltd. acquired a new position in Medtronic in the fourth quarter worth about $377,169,000. Van ECK Associates Corp raised its position in Medtronic by 2,043.4% in the fourth quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock worth $207,540,000 after purchasing an additional 2,476,935 shares in the last quarter. Finally, Invesco Ltd. raised its position in Medtronic by 17.8% in the fourth quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company’s stock worth $1,233,769,000 after purchasing an additional 2,333,600 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of Medtronic stock opened at $86.41 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $110.83 billion, a price-to-earnings ratio of 26.27, a P/E/G ratio of 2.22 and a beta of 0.81. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The firm’s 50-day moving average price is $85.93 and its two-hundred day moving average price is $86.64.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. On average, equities analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared 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 3.24%. The ex-dividend date was Friday, March 28th. Medtronic’s dividend payout ratio is currently 85.11%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MDT. Truist Financial dropped their price target on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, April 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. UBS Group increased their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Robert W. Baird increased their price target on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.