Mitsubishi UFJ Trust & Banking Corp Has $51.71 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Mitsubishi UFJ Trust & Banking Corp boosted its position in Medtronic plc (NYSE:MDT) by 2.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 647,334 shares of the medical technology company’s stock after purchasing an additional 12,727 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of Medtronic worth $51,709,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDT. Kingsview Wealth Management LLC raised its stake in Medtronic by 11.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 20,949 shares of the medical technology company’s stock valued at $1,886,000 after acquiring an additional 2,197 shares during the period. Independent Advisor Alliance increased its holdings in shares of Medtronic by 43.5% in the third quarter. Independent Advisor Alliance now owns 43,832 shares of the medical technology company’s stock valued at $3,946,000 after purchasing an additional 13,289 shares during the last quarter. DRW Securities LLC raised its position in shares of Medtronic by 31.7% in the third quarter. DRW Securities LLC now owns 6,288 shares of the medical technology company’s stock valued at $566,000 after purchasing an additional 1,512 shares during the period. Loomis Sayles & Co. L P lifted its stake in shares of Medtronic by 6.9% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,182 shares of the medical technology company’s stock worth $196,000 after buying an additional 141 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Medtronic by 29.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,252,181 shares of the medical technology company’s stock worth $292,794,000 after buying an additional 732,753 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

MDT has been the subject of several research reports. Robert W. Baird raised their price objective 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. Barclays lifted their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Truist Financial decreased their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Finally, Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and upped their price target for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $96.07.

Medtronic Price Performance

MDT stock opened at $88.50 on Wednesday. The company’s 50-day moving average price is $90.90 and its two-hundred day moving average price is $88.04. The firm has a market cap of $113.51 billion, a P/E ratio of 26.90, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25.

Medtronic (NYSE:MDT) last announced its quarterly earnings data 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. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. On average, analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.16%. Medtronic’s dividend payout ratio is currently 85.11%.

Insider Activity at Medtronic

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 transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

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.