Vinva Investment Management Ltd Boosts Holdings in Medtronic plc (NYSE:MDT)

Vinva Investment Management Ltd lifted its stake in Medtronic plc (NYSE:MDT) by 16.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,939 shares of the medical technology company’s stock after buying an additional 10,736 shares during the period. Vinva Investment Management Ltd’s holdings in Medtronic were worth $6,125,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. ProVise Management Group LLC grew its position in shares of Medtronic by 2.0% in the 4th quarter. ProVise Management Group LLC now owns 125,582 shares of the medical technology company’s stock valued at $10,031,000 after buying an additional 2,471 shares during the last quarter. Xponance Inc. grew its position in shares of Medtronic by 3.4% in the 4th quarter. Xponance Inc. now owns 188,501 shares of the medical technology company’s stock valued at $15,057,000 after buying an additional 6,222 shares during the last quarter. Boston Partners grew its position in shares of Medtronic by 117.4% in the 4th quarter. Boston Partners now owns 3,102,605 shares of the medical technology company’s stock valued at $248,311,000 after buying an additional 1,675,588 shares during the last quarter. Generali Asset Management SPA SGR purchased a new position in shares of Medtronic in the 4th quarter valued at $3,109,000. Finally, Evoke Wealth LLC purchased a new position in shares of Medtronic in the 4th quarter valued at $345,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Down 1.3 %

Shares of NYSE MDT opened at $92.10 on Wednesday. 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 52 week low of $75.96 and a 52 week high of $96.25. The firm has a 50-day moving average price of $90.12 and a 200 day moving average price of $88.02. The stock has a market capitalization of $118.12 billion, a price-to-earnings ratio of 27.99, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $8.33 billion. Equities research analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Friday, March 28th. Medtronic’s payout ratio is currently 85.11%.

Wall Street Analyst Weigh In

MDT has been the topic of several research reports. Sanford C. Bernstein raised their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Truist Financial lowered their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Barclays raised their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Wells Fargo & Company lowered their price objective 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, Robert W. Baird lifted their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $96.07.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by company 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.