Asset Management One Co. Ltd. Has $43.43 Million Holdings in Medtronic plc (NYSE:MDT)

Asset Management One Co. Ltd. grew its position in Medtronic plc (NYSE:MDT) by 7.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 537,902 shares of the medical technology company’s stock after purchasing an additional 36,618 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Medtronic were worth $43,430,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of MDT. CX Institutional increased its holdings in Medtronic by 9.1% in the third quarter. CX Institutional now owns 7,290 shares of the medical technology company’s stock worth $656,000 after purchasing an additional 608 shares in the last quarter. Sumitomo Life Insurance Co. increased its stake in shares of Medtronic by 2.5% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 18,808 shares of the medical technology company’s stock valued at $1,693,000 after acquiring an additional 458 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake in Medtronic by 1.2% during the third quarter. Wolff Wiese Magana LLC now owns 17,062 shares of the medical technology company’s stock worth $1,536,000 after acquiring an additional 205 shares in the last quarter. SPC Financial Inc. grew its holdings in Medtronic by 9.7% in the third quarter. SPC Financial Inc. now owns 11,305 shares of the medical technology company’s stock worth $1,018,000 after purchasing an additional 1,004 shares during the period. Finally, Cornerstone Wealth Management LLC raised its holdings in shares of Medtronic by 4.8% during the third quarter. Cornerstone Wealth Management LLC now owns 12,778 shares of the medical technology company’s stock valued at $1,150,000 after purchasing an additional 586 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE MDT opened at $92.27 on Friday. The company’s 50 day moving average is $85.16 and its 200-day moving average is $86.68. The firm has a market cap of $118.32 billion, a P/E ratio of 28.22, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the previous year, the business earned $1.25 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. Sell-side analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.03%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.63%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Barclays upped their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Truist Financial reduced their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Sanford C. Bernstein lifted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Robert W. Baird dropped their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lowered their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $95.00.

Insider Activity

In related news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

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.