Rakuten Securities Inc. Has $27,000 Stock Holdings in Medtronic plc (NYSE:MDT)

Rakuten Securities Inc. increased its position in Medtronic plc (NYSE:MDT) by 753.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 333 shares of the medical technology company’s stock after buying an additional 294 shares during the period. Rakuten Securities Inc.’s holdings in Medtronic were worth $27,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Jupiter Asset Management Ltd. boosted its stake in Medtronic by 2,255.1% during the 4th quarter. Jupiter Asset Management Ltd. now owns 870,956 shares of the medical technology company’s stock valued at $69,572,000 after purchasing an additional 833,975 shares during the last quarter. Truvestments Capital LLC boosted its stake in Medtronic by 5.4% during the 4th quarter. Truvestments Capital LLC now owns 33,233 shares of the medical technology company’s stock valued at $2,655,000 after purchasing an additional 1,706 shares during the last quarter. Hopwood Financial Services Inc. acquired a new position in Medtronic during the 4th quarter valued at about $68,000. Farther Finance Advisors LLC boosted its stake in Medtronic by 50.3% during the 4th quarter. Farther Finance Advisors LLC now owns 57,522 shares of the medical technology company’s stock valued at $4,595,000 after purchasing an additional 19,242 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Medtronic by 49.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,855 shares of the medical technology company’s stock valued at $388,000 after purchasing an additional 1,613 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Medtronic Trading Up 0.9 %

NYSE:MDT opened at $92.30 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 $118.38 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The firm’s 50 day moving average is $89.36 and its 200 day moving average is $87.94. Medtronic plc has a 12 month low of $75.96 and a 12 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, beating analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Sell-side analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.03%. Medtronic’s dividend payout ratio (DPR) is 85.11%.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of analyst reports. UBS Group lifted their price target on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Wells Fargo & Company dropped their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $96.07.

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.