Mitsubishi UFJ Asset Management Co. Ltd. Acquires 259,064 Shares of Medtronic PLC $MDT

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Medtronic PLC (NYSE:MDT) by 8.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,210,519 shares of the medical technology company’s stock after purchasing an additional 259,064 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Medtronic were worth $251,159,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Monetary Solutions Ltd acquired a new stake in Medtronic during the fourth quarter worth $27,000. Anfield Capital Management LLC boosted its stake in Medtronic by 410.7% in the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after buying an additional 230 shares in the last quarter. Acumen Wealth Advisors LLC bought a new position in shares of Medtronic during the fourth quarter valued at $29,000. Imprint Wealth LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth about $31,000. Finally, Basepoint Wealth LLC acquired a new stake in shares of Medtronic during the fourth quarter worth approximately $32,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $118.00 target price on shares of Medtronic in a research note on Thursday, June 4th. Mizuho reduced their price objective on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Medtronic in a research report on Tuesday. Piper Sandler restated a “neutral” rating on shares of Medtronic in a report on Monday, August 10th. Finally, Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.83.

Insider Activity

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the sale, the executive vice president directly owned 37,227 shares in the company, valued at $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.

Medtronic Stock Down 1.8%

MDT stock opened at $92.45 on Friday. The company has a market cap of $118.33 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 2.52 and a beta of 0.55. Medtronic PLC has a twelve month low of $73.31 and a twelve month high of $106.33. The business has a 50 day moving average price of $84.12 and a two-hundred day moving average price of $86.01. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter last year, the company posted $1.62 earnings per share. Medtronic’s quarterly revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Analysts anticipate that Medtronic PLC will post 5.94 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a yield of 3.1%. Medtronic’s dividend payout ratio is currently 77.21%.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).