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

Mitsubishi UFJ Trust & Banking Corp increased its position in Medtronic plc (NYSE:MDT) by 2.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 647,334 shares of the medical technology company’s stock after acquiring an additional 12,727 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Medtronic were worth $51,709,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MDT. Mainstream Capital Management LLC bought a new position in shares of Medtronic during the fourth quarter valued at $26,000. Stephens Consulting LLC increased its holdings in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 204 shares during the period. Rakuten Securities Inc. raised its position in Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 294 shares during the last quarter. J. Stern & Co. LLP acquired a new position in Medtronic during the 3rd quarter worth about $30,000. Finally, Fiduciary Advisors Inc. bought a new stake in shares of Medtronic in the 4th quarter valued at about $36,000. Institutional investors own 82.06% of the company’s stock.

Insider Activity

In related news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction dated 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 owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Medtronic Stock Performance

Shares of Medtronic stock opened at $88.50 on Wednesday. The business has a 50-day simple moving average of $90.90 and a 200 day simple moving average of $88.04. The firm has a market capitalization of $113.51 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a one year low of $75.96 and a one year high of $96.25.

Medtronic (NYSE:MDT) last released 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 return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. On average, research analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Robert W. Baird boosted their price target 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 increased 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. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Finally, UBS Group increased their price target on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $96.07.

Medtronic Company 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.