Rakuten Securities Inc. Acquires 294 Shares of Medtronic plc (NYSE:MDT)

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

Other large investors have also recently modified their holdings of the company. Copley Financial Group Inc. bought a new stake in shares of Medtronic during the 3rd quarter valued at about $694,000. Franklin Street Advisors Inc. NC boosted its position in shares of Medtronic by 32.6% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock valued at $5,873,000 after acquiring an additional 18,057 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of Medtronic by 322.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock valued at $6,626,000 after acquiring an additional 56,178 shares during the last quarter. Olstein Capital Management L.P. boosted its position in shares of Medtronic by 8.0% during the 4th quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company’s stock valued at $7,509,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Czech National Bank boosted its position in shares of Medtronic by 6.4% during the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock valued at $22,212,000 after acquiring an additional 16,786 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of Medtronic stock opened at $92.30 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The business’s 50 day simple moving average is $89.36 and its two-hundred day simple moving average is $87.94. The stock has a market capitalization of $118.38 billion, a P/E ratio of 28.05, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. Medtronic plc has a one year low of $75.96 and a one year high of $96.25.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.03%. Medtronic’s dividend payout ratio is currently 85.11%.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MDT shares. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. 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. Sanford C. Bernstein raised their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Robert W. Baird raised their price objective on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, UBS Group raised their price objective on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Hold” and a consensus price target of $96.07.

About Medtronic

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.